0312 GMT - Some central banks in Southeast Asia and India will likely continue to raise their policy rates as inflation pressures are building, OCBC economist Lavanya Venkateswaran says in a report. El Nino's impact is expected to be a key inflation driver for Vietnam, the Philippines, Thailand, Malaysia, Indonesia and India. Most central banks are likely to look through temporary weather-related price shocks initially. Yet, the weather phenomenon-driven food inflation is a challenge for central banks as food price gains could spillover into core inflation through expectations and wage adjustment, the economist says.