Singapore GIC says Asia monetary policy too loose

SINGAPORE, July 9 (Reuters) - Asian central banks need to tighten monetary policy further to cope with inflation, a senior Government of Singapore Investment Corp (GIC) official said on Wednesday.

The region's central banks are "somewhat behind the curve," Teh Kok Peng, president of GIC Special Investments, GIC's hedge fund and private equity arm, said at a forum organised by Japanese brokers Nomura.

He said China's monetary policy was still too loose and predicted the central bank will tighten policy further to make sure core inflation did not rise further.

GIC, one of the biggest sovereign wealth funds with an estimated $300 billion in assets, warned in April that the world could be facing its worst recession in 30 years and said financial markets would be highly volatile. [ID:nSP31328] (Reporting by Kevin Lim and Daryl Loo, editing by Neil Chatterjee)