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Surging prices nudge Asia's reluctant central bank hawks off the sidelines
Some Asian central banks are shaking off their long-held reluctance to follow their global peers in lifting benchmark interest rates off historic lows, as the Ukraine war blows consumer prices well out of policymakers’ comfort zones. The region’s economies have largely lagged U.S. and European reopenings from the pandemic and central banks in Australia, India and Southeast Asia have up until now mostly looked past the inflation pressures caused by global supply snags, and focused more on shoring up their recoveries. This week, however, there has been a marked shift in the language of some of the region’s less ... (full story)