UK rates points upwards – BoE’s J.Cunliffe

With the US Federal Reserve meeting over, the focus is now shifting to several policy rate decisions in emerging markets this week, said the UBS analyst team. Given subdued economic activity in several countries, UBS expects EM central banks to keep an accommodative policy for as long as possible. However, the room for monetary easing is rather limited in light of recent FX weakness, especially in fundamentally weaker markets.