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Asia faces complex policy considerations
The battle against Covid-19 is by no means over, but Asia’s central banks must start confronting post-pandemic considerations. China is already taking steps to reign in liquidity and credit, along with measures to curb property price surges in some parts of the country. Economic outperformance has come with capital inflow surge, an appreciating currency and a marked rise in bond prices, all of which are making macroeconomic management challenging. For the rest of Asia, policy considerations are even more complex. Economic normalisation is still a way off, but currencies and property markets have soared. At what ... (full story)