AsiaInt Economic Intelligence Review, July 2004
1,211 words

The US Federal Reserve's decision on 30 June to raise interest rates from a 46-year low of 1% to 1.25% is thought to mark the beginning of a period of monetary tightening. The global reaction has been muted, largely because the move had been flagged for some months, and the Fed was careful to announce that further rises would be gradual. But there has been intense speculation as to the response in Asia, mostly because the region's various central banks have a less-than-perfect record in managing market expectations. But a trend of rising inflation through most of Asia would suggest a round of monetary tightening is on the cards_

Click here for full text
http://www.asiaint.com/arl/arl4021.asp