Why Asian central banks aren’t likely to turn as hawkish as the Fed

Monetary policy normalisation has been gaining traction since the start of 2022, mainly led by central banks in developed markets.It started with a hawkish pivot by the Federal Reserve. Jerome Powell, chair of the American central bank, delivered a hawkish message at the press conference following the Fed’s January meeting, which was consistent with the hawkish tone of the minutes from the December meeting that were released in January. As a result, the market is currently expecting the Fed to…

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