Asia's growth is set to outpace that of the U.S. and Europe's by the end of this year, says Morgan Stanley.
Asia's growth is set to outpace that of the U.S. and Europe's by the end of this year as the region was not as buffeted by rate shocks as its western counterparts were, said Morgan Stanley.
"By the fourth quarter of this year, we think Asia's growth will be outperforming U.S. and Europe by about 450 basis points," the investment bank's Chief Asia Economist.Kazuhiro Nogi | Afp | Getty Imagesthat of the U.S. and Europe's by the end of the year as the region has been largely spared from interest rate shocks, said Morgan Stanley.
"By the fourth quarter of this year, we think Asia's growth will be outperforming U.S. and Europe by about 450 basis points," the investment bank's Chief Asia Economist Chetan Ahya said in a webinar on Tuesday, hours before theCiting reasons for his optimism, he said Asia is expected to deliver healthier growth rates while the West lags behind.
Central banks in those markets are having to take policy rates into restrictive territory to bring inflation under control, he added. "Asia has not had interest rate shock that U.S. and Europe has had," he said, adding that Asia's inflation has been running almost half the run rate compared to the other two regions.Inflation slowed to 4% in May — the
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