Word: inflationitis
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So far, Asia's economies have held up quite well, but in recent weeks, economists have been scaling back their growth forecasts. Merrill Lynch last week cut its Asia GDP growth estimate to 7.7% from 7.9% for 2008, citing weak demand in industrialized economies for Asian exports. Though that's...
Asia, though, is waking up to the risks to its growth, and the focus in some governments appears to be shifting from fighting inflation to bolstering economies. In an attempt to stimulate growth and stabilize markets, the People's Bank of China on Monday lowered its key interest rate by...
Economists are divided, though, over how far Asia's policy makers will go to stimulate the region's economies in response to Wall Street's problems. Andrew Freris, senior investment strategist for Asia at BNP Paribas Private Banking in Hong Kong, says central bankers face "a conundrum." Though he says...
So far, Asia's economies have held up quite well, but in recent weeks, economists have been scaling back their growth forecasts. Merrill Lynch last week cut its Asia GDP growth estimate to 7.7% from 7.9% for 2008, citing weak demand in industrialized economies for Asian exports. Though that's...
Some governments, though, are becoming more worried about declining growth than inflation. In an attempt to stimulate the economy and stabilize markets, the People's Bank of China on Monday lowered its key interest rate by 27 basis points to 7.2% - the first cut since 2002. The central bank also...