Standard & Poor’s sovereign-ratings committee chief, John Chambers, has suggested that Asian policy makers reform exchange rates to counter inflation, The Wall Street Journal reports. According to Chambers, administrative measures, such as capital controls, are distortive, and central banks are reluctant to raise exchange rates as it will hurt exports.

Chambers added that China can continue growing in high single digits for some time, as it has tackled its inflation. The chief also said that the high Australian dollar acts as a cushion for the economy in both directions and its fluctuation has not harmed the private sector.