SINGAPORE -- Banks in the Association of Southeast Asian Nations are expecting higher returns from their lending businesses in the current rising interest rate environment, as soaring inflation prompts tightening from the U.S. Federal Reserve.
The U.S. central bank last week raised its benchmark interest rate by 75 basis points, or three quarters of a percentage point, for the second consecutive month as it intensified its fight against the country's biggest price rises in 40 years.
