Growth in Asia is set to pick up this year driven largely by continued robust domestic demand, leading a three-speed global recovery, the International Monetary Fund said in its Regional Economic Outlook on Monday.
The lender forecasts the region to expand 5.75 percent in 2013. The favorable outlook is however, accompanied by some risks.
Financial imbalances and rising asset prices, fueled by strong credit growth and, easy financing conditions are building in several Asian economies, it said.
Further, the IMF urged monetary policymakers to stand ready to respond 'early and decisively' to shifting risks, although the need and direction for future monetary policy action differs substantially across economies.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.