U.S. interest rate cuts prompt price controls in Asia

02/18/2008 | Bloomberg

Asian governments are reacting to inflation with subsidies and price controls. As the U.S. Federal Reserve has lowered interest rates, investors have flocked to higher interest rates available in Asia, adding to inflation pressures. Asian governments are trying to regulate consumer prices for items like meat and eggs in China, cooking oil in Malaysia and utility bills in Indonesia and the Philippines.

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