06 Mar '11, 10pm

Rise in oil prices to hamper Asian growth: by Chris Howells SINGAPORE - Asian economies will see their pace of g...

SINGAPORE - Asian economies will see their pace of growth cut with inflation headed even higher if oil prices surge further, analysts said. According to them, the outlook for Asian economic growth and inflation, which has already proved a headache for policy-makers across the region so far this year, could worsen, if benchmark crude oil prices reach US$120 a barrel amid persistent uncertainty in the oil-rich Middle East and North Africa region. "If oil prices do get to US$120 a barrel, we should be shaving off about 1.5 percentage points off expected growth of 8.2 per cent (for Asia ex-Japan) this year," said Mr Sanjay Mathur, head of research & strategy, Asia ex-Japan, at Royal Bank of Scotland. Mr Mathur said higher oil prices will make inflation "a lot more uncomfortable to manage", especially for developing economies in the region. "We think inflation will average 9 pe...

Full article: http://www.todayonline.com/Business/EDC110307-0000129/Ris...

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