3  The size of LCY bonds increased from $ trillion at the end of 2003 to $ trillion at the end of the second quarter of 2022 (Source: AsianBondsOnline). 4  5  See ADB (2017). China and Korea account for 90.0% of EM East Asia's outstanding LCY bonds as of the end of Q2 2022 (Source: AsianBondsOnline).
However, in the statement accompanying last month's policy decision, the FOMC again indicated that its predominant policy concern is the risk that inflation will fail to ease as expected and that it is prepared to take action to address inflation risks if developments warrant.