Asian nations in no hurry to hike rates

Indian action part of measures to curb surging inflation, say analysts

BEIJING - Even though India unexpectedly hiked its interest rates on Friday, it is premature to predict whether other major Asian economies will follow suit, analysts said.

The Reserve Bank of India hiked short-term rates - the first time in almost two years - from record lows in a bid to curb surging inflation. In February, its wholesale price index, a major indicator of overall inflation, reached 9.89 percent, well above the government estimate.