Asian Development Bank cuts Asia growth forecast on weakening Indian, Chinese economies
The Asian Development Bank (ADB) has cut its economic growth forecast for Asia, citing weakness in region’s two largest economies China and India.
The bank added that concerns over the United States scaling down a key stimulus measure, the quantitative easing (QE) programme, will also affect the region”s growth. Speculation over the US scaling back the programme has seen many investors pull out money from the region, the BBC reports.