At a press briefing in Bangkok on Thursday, the International Monetary Fund (IMF) said Asia's central banks should be ready to raise interest rates where inflation turns more persistent or expectations start to slip. Krishna Srinivasan, Director of the IMF's Asia and Pacific Department, said the oil shock has pushed up the price rises people expect in the near term. "As a result of the oil shocks, near-term inflation expectations have risen, but long-term expectations remain broadly anchored," he said.