In the coming months, Global growth is expected to be slow, but Asian economies could hold up moderately well, thanks to several “ mitigating factors”, according to the Chief executive of the largest bank of Southeast Asia.
CEO of DBS Group Holdings of Singapore, Piyush Gupta told, “ The overall macro-economy will be a tad bit slower, but I do think that there are some mitigating factors: Monetary policies are getting looser, I think there are some fiscal stimulus coming down the pipe”.
Mr. Gupta recorded that Asia still calculated to grow at 5.5 percent to 6 percent in this year despite the overall tender global environment.
Several central banks in Asia – including India, China Australia have diminished interest rates or recommended the intention to do so in the coming months in an attempt to reinforce the economic growth, added by CEO.
Additionally, the US Federal Reserve detaining from the raising interest rates further is good news for Asia, told Steve Cochrane, the Chief Asia Pacific economist at Moody’s Analytic.
He told to media,” It means that there’s a little less pressure on foreign exchange”.
The Chief Pacific economist Steve Cochrane added, “ A bit more importantly, though, it gives central banks in this part of the world a little bit more freedom: Freedom to focus on their own economies, rather than looking over their shoulders at what the Fed’s going to do. And if the economy does begin to slow later this year, it means the central banks will have a little more room to ease if they deem that necessary”.