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Asian Central Banks Signal Rate Rises Off Table Amid Turmoil

Central bankers from three Southeast Asian nations signaled that global financial-market turmoil will diminish inflation pressures in their economies, making interest-rate increases unlikely in coming months.

Bangko Sentral ng Pilipinas will probably refrain from boosting rates for the rest of 2011, Governor Amando Tetangco said in a Sept. 24 interview. Thailand’s central bank may cut its economic growth projections, Governor Prasarn Trairatvorakul said the same day. Bank Negara Malaysia Governor Zeti Akhtar Aziz said yesterday her country’s inflation has probably peaked.