ayhan: indeed.hen you look at increasing commodity prices, they are quite substantial but that comes with inflationary pressures as well. even in this economy, they're going to be dividends associated with higher prices, but inflation is global. inflation pressures are global, so they need to adjust their policies and withdraw monetary policy stimulus. and still support measures. those need to be withdrawn now. shery: are central banks across asia acting fast enough? ayhan: i think one of the important things where you have this type of stagflation problem, record inflation rates, you need to act promptly. in the 1970's, we had a stagflation episode similar to what we have now. the reaction was delayed, especially the u.s. federal reserve and that basically being very aggressive. this translated into a global recession in 1982 and a string of financial crisis in emerging markets. that is why we are suggesting central banks to be decisive to fight inflation and undertake the necessary measures gradua