Asian Central Banks Signal a Tightening Trend

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The Reserve Bank of India meets Friday and is expected to address inflation worries with some measure of monetary tightening. On Thursday, the Philippine central bank kept its benchmark rate unchanged, but tweaked a separate lending facility and signaled that its tightening cycle has begun. Malaysia's central bank on Tuesday also kept rates steady, and warned of "financial imbalances that could arise from interest rates being too low for a prolonged period of time."