The International Monetary Fund cautioned Asian central banks against prioritizing what they think the US Federal Reserve will do as they lay out their own policy paths. “We recommend Asian central banks to focus on domestic inflation, and avoid making their policy decisions overly dependent on anticipated moves by the Federal Reserve,” Krishna Srinivasan, the fund’s Asia Pacific director, said in a prepared statement for a press conference on Thursday. “If central banks follow the Fed too closely, they could undermine price stability in their own countries.” Earlier Thursday, IMF Managing Director Kristalina ... (full story)