Inflation woes to persist in Asia
Credit Suisse economist Dong Tao says inflation continues to be a worry, but growth risks in China are moderate. The bank raises its 2008 GPD growth forecast for the mainland from 9.7% to 10.1%.
Inflation will continue to be a worry in Asia, says Dong Tao, chief economist for non-Japan Asia at Credit Suisse.
ôAsia is joining the rest of the world in facing tremendous inflation problems,ö says Tao, who notes that inflation will persist in the region even if oil prices stabilise. After all, food is a major driver of inflation in Asia, especially in the southeast.
Tao doesnÆt expect Asian central banks to significantly tighten monetary policy to help curb consumer prices...
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