TOKYO : Expected interest rate hikes by the U.S. Federal Reserve may delay emerging Asia's economic recovery and keep pressure on policymakers to guard against the risk of capital outflows, a senior International Monetary Fund official said on Tuesday.
As worries over a more hawkish Fed roils global markets, investors expect the U.S. central bank to signal on Wednesday its plan to raise rates in March. Markets have priced in a total of four rate increases this year. In an updated World Economic Outlook released on Tuesday, the IMF slashed emerging Asia's growth projection for 2022 to 5.9per cent from its October forecast of a 6.3per cent expansion.
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