, Columnist
War Is Wrecking Chances for Asian Rate Cuts
Asia is facing a demand shock from oil’s surge.
Photo: Ezra Acayan/Getty Images
The interest rate cuts so confidently forecast for large parts of Asia — and elsewhere — just months ago appear to be a diminishing prospect. That may be the least of the problems that policymakers confront.
Going a step further and hiking borrowing costs is now the tough part, something that should have been off the table.