Interest rates to stay lower than consensus expects

Asian central banks have, for the most part, left interest rates on hold recently, with India the only major central bank in the region to adjust monetary policy over the past month. India raised rates to help combat inflation. However, in most economies, inflation is either low or easing, which makes it unlikely that any central bank will opt for aggressive tightening this year. In fact, we think interest rates will remain lower than the consensus currently anticipates nearly everywhere.