Time for Asian central banks to pay heed to growth risks

Inflationary pressures are losing steam, as is region's export outlook

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20221007 rice seller Quezon City.JPG

A rice vendor naps at a public market in Quezon City, Metro Manila, in January 2021: Consumer price indexes may have already peaked in some Asian economies. © Reuters

Priyanka Kishore is head of India and Southeast Asia macro and investor services at Oxford Economics in Singapore.

On Sept. 21, U.S. Federal Reserve Gov. Jerome Powell made clear that inflation, not growth, would remain the focus of American monetary policy. Forecasts released by Fed rate-board members then hinted that the escalating U.S. interest benchmark could ultimately rise higher than the market had previously expected.

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