Reluctant emerging Asia, including India, could delay real interest rate hikes until 2022 All 8 emerging Asian economies, including India & Indonesia, are expected to hold benchmark interest rates steady through 2021, according to forecasts by economists. Text Size: A+ Singapore: Emerging Asia’s central banks are expected to opt for supporting their economic recoveries rather than tackling volatile price swings this year. All eight emerging Asian economies, including India and Indonesia, are seen holding benchmark interest rates steady through 2021, according to the median forecasts from Bloomberg surveys of economists. Higher real interest rates will allow some of Asia’s central banks to stand pat, while for others a recent pick-up in inflation is set to moderate. Much depends on the path of global interest rates, and the Federal Reserve’s meeting this week will be keenly watched by the region’s policy makers.