01 Feb '11, 1pm

Inflation worries SE Asian central banks

Inflation worries SE Asian central banks

SINGAPORE: Indonesia's Central Bank may start hiking interest rates after it stood pat in its policy for the whole of 2010, as inflation pressures mount in the economy. Some say it could even be as early as its coming policy meeting this Friday as inflation hit seven per cent in January from a year ago. The Bank of Thailand is also expected to do the same at its next meeting in March, with inflation in the country rising to three per cent on-year. Bank Indonesia has kept interest rates on hold at 6.5 per cent since August 2009, while the Bank of Thailand hiked rates by 75 basis points last year. Oil prices have passed US$100 a barrel and rice prices are rising once again as global demand is expected to exceed supply for the first time in four years, according to the US Department of Agriculture (USDA). These factors are causing inflation to rear its ugly head in South East...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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