Asia will need to start gradually tightening monetary policy and should not rely on short-term exchange rate policy to combat the inflationary effect of capital inflows, Singapore's finance minister said on Monday."Asia cannot delay for too long a return to gradual monetary tightening, and all that implies for currencies as well," Singapore's Finance Minister Tharman Shanmugaratnam said at the San Francisco Federal Reserve Bank's Asian Banking and Finance conference. Full Story
