'China (A1; stable), Malaysia (A3; stable) and Thailand (Baa1; stable) in particular stand out,' said the credit rating agency.
In its Cross-Sector report for Emerging Markets - Global, it said inflation is already within or near central bank targets across most major EMs with inflation-targeting frameworks, and expects price level increases to moderate further by the end of 2024.
"China , Malaysia and Thailand in particular stand out, where we forecast year-end inflation of 2.0 per cent, 3.0 per cent and 2.8 per cent, respectively, in 2023," said the credit rating agency. Malaysia also subsidises essential commodities, which helps to contain inflation from global commodity price shocks, it said.
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