Some Asian economies may need rapid rate hikes to cool inflation


Source: prothomalo.com prothomalo.com

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"Several economies will need to raise rates rapidly as inflation is broadening to core prices, which exclude the more volatile food and energy categories, to prevent an upward spiral of inflation expectations and wages that would later require larger hikes to address if left unchecked," he said. Most emerging Asian economies had experienced capital outflows comparable to those in 2013, when global bond yields spiked on hints by the US Federal Reserve that it might taper bond buying sooner than expected, Srinivasan said. Outflows had been especially large for India, which had seen $23 billion move out since Russia's invasion...