Investors raise stakes

Central banks in South Korea and New Zealand have said their improving economies may eventually justify higher interest rates.

LONDON: Investors are raising the stakes for emerging-market central banks, rewarding those doing the most to prevent inflation from becoming more than transitory.

With inflation in developing nations now exceeding expectations by the most in more than a decade, assets backed by policy makers who are getting ahead of price pressures are enticing fund managers more than ever.