SEOUL, March 24: Asian central banks are concerned about a slowing global economy and rising inflationary pressures caused by a US economic slowdown, South Korea’s central bank said on Monday.
Asia’s central bank chiefs including Bank of Korea governor Lee Seong-Tae expressed such concerns during their meeting last week in Jakarta, the bank said in a statement.
They called for strengthened supervision in Asia’s financial markets, saying downside risks to the global economy have been increasing due to the US financial crisis, it said.
The US downturn would worsen in the second quarter, the Organisation for Economic Cooperation and Development said last week, adding the strains of the crisis globally “are unlikely to fade soon.”—AFP
