BOJ's Muto on the dynamism and diversity of Asia

In the speech 'Dynamism and diversity of Asia: A central banker's view' given on 17 October Toshiro Muto of the Bank of Japan said Asian economies are stronger today even with record high oil prices compared with the 1970s when they were hit by the last oil shocks.

``Some Asian currencies like the Indonesian rupiah came under pressure when oil prices reached record highs this August,'' he said in the speech in Tokyo. ``However, the economic fundamentals of most Asian countries are much stronger

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