ASEAN pledge 'timely' action on inflation<\/p>\n
Southeast Asia's finance ministers pledged \"timely\" action to
\ncurb inflation, a sign some may embrace stronger local currencies
\nto restrain rising energy costs.<\/p>\n
Ministers \"recognize the need to manage any downside risks,\"
\nto growth, they said in a joint statement in Vientiane, Laos,
\nwhere they met earlier on Wednesday.<\/p>\n
\"Appropriate and timely policy adjustments would be considered
\nin view of, among others, potential build-up in inflationary
\npressures, higher global oil prices, market volatilities as well
\nas growing imbalances,\" it added.<\/p>\n
Economic growth among the 10-member Association of Southeast
\nAsian Nations will slow this year from 6 percent in 2004 as
\nflagging global demand trims exports, the statement said.<\/p>\n
In Indonesia, Southeast Asia's largest economy, the central
\nbank on April 4 raised a key interest rate by a quarter-point to
\n7.25 percent after surging oil prices drove inflation to 8.8
\npercent in March, the highest in at least 26 months.<\/p>\n
Thailand will add to its four interest-rate increases since
\nAugust, central bank Governor Pridiyathorn Devakula said in an
\ninterview on March 29.<\/p>\n
Rising interest rates threaten to curb economies already
\nexperiencing a slowdown in electronics demand as soaring energy
\ncosts pare spending in the U.S., the largest overseas market for
\nmost Asian nations.<\/p>\n
Malaysia's economy may expand as little as 5 percent this year
\ncompared with 7.1 percent growth, a four-year high, in 2004. Thai
\ngrowth may slow to 4.7 percent this year from 6.1 percent in
\n2004, the University of Thai Chamber of Commerce said March 22.<\/p>\n
Singapore expects growth to slow to as little at 3 percent
\nfrom 8.4 percent.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asean-pledge-timely-action-on-inflation-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}