Several otherwise hawkish Asian central banks have softened their stance and left key interest rates unchanged in the last few weeks, indicating that global growth stagnation is more of a concern than inflation. Andrew Robinson, Correspondent for Saxo Capital Markets, gives an overall interest rate outlook for the region. With most Asian economies very export oriented focus is largely on increasing evidence of lagging growth in Europe and the U.S. and the resultant impact on the Asian region's economies. Therefore raising interest rates to help quell the damaging effects of particularly high food prices is for now out of the question.

See more of Andrew's Asian market commentary on TradingFloor.com