Divergence from global cycles gives Asia policy room – Amro
Change may allow Asean+3 central banks to focus on domestic rather than global conditions, report says
Monetary policy autonomy for East and South-east Asian central banks may be growing as their countries’ financial conditions increasingly diverge from global cycles, a regional macroeconomic watchdog has concluded.
Financial conditions within Asean+3 – the Association of Southeast Asian Nations (Asean) members, plus China, Japan and South Korea – had previously been “very sensitive” to global cycles, Asean+3 Macroeconomic Research Office (Amro) chief economist Dong He said today (October 5). This
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