SINGAPORE -- Bank Indonesia's surprise rate hike last week highlighted the tall order for other central banks in Asia to defend currencies and fight inflation, with prospects for early monetary easing now fading in many countries.
Economy
Indonesian rate hike highlights Asia's tough battle to defend currencies
Prospects of easing fade as Philippine peso and others remain weak
Bank Indonesia explained that the rate hike was a precautionary measure to mitigate the impact of higher prices for imports. © Reuters
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