Oil-importing Asian central banks keep raising or holding rates high to defend their currencies against imported energy inflation, so domestic credit growth slows for as long as the Gulf premium persists.
forming · confidence 40 · Emerging (watchlist) · tracking since October 22, 2026 · updated October 22, 2026
RBI minutes show Governor Malhotra ruling out near-term cuts and tying further increases to the growth and inflation outlook. The Bank of Korea held at 3% after two straight hikes. Two major oil importers are keeping policy tight as Brent trades near $110.
Supporting · October 22, 2026
Reserve Bank of India rules out near-term rate cuts while Asian central banks lean toward tightening
RBI minutes show Governor Malhotra ruling out near-term cuts and tying further increases to the growth and inflation outlook. The Bank of Korea held at 3% after two straight hikes. Two major oil importers are keeping policy tight as Brent trades near $110.
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