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Prices at the Pumps - April 17, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesWASHINGTON - The International Monetary Fund urged Asian central banks to focus on domestic inflation and avoid tying their policy decisions too closely to anticipated moves by the U.S. Federal Reserve.
"Expectations about Fed easing have fluctuated in recent months, driven by factors that are unrelated to Asian price stability needs," he said in a briefing on the region's outlook. "If central banks follow the Fed too closely, they could undermine price stability in their own countries." Bank of Korea Governor Rhee Chang-yong told a separate IMF seminar on Wednesday that fading Fed rate-cut chances have caused headwinds for the won, and complicated his bank's decision on when to start cutting borrowing costs.
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