New Delhi, July 5 -- Lower crude oil prices are giving the Reserve Bank of India (RBI) and other Asian central banks greater room to support economic growth as easing energy inflation "reduces balance-of-payments pressures," according to Standard Chartered's latest report.

The global bank said the recent decline in oil prices is likely to provide "disinflationary relief" across much of Asia, particularly for economies that rely heavily on imported energy, including India.

"Lower oil prices offer disinflationary relief for monetary policies, but unevenly across Asia. Regional risk assets and local-currency (LCY) bonds are supported," the report said.

Explaining the rationale, Standard Chartered said most Asian economies are net energy i...