Global Macro Service > Research Briefings > Global

EM pro-cyclicality has not gone away

​Since March, eight key emerging markets (EM) have felt obliged to raise rates. This is a reminder that the problem of pro-cyclicality – EM being forced to tighten monetary policy in response to external pressures, even when growth may be slipping – has not gone away. More rate rises could be on the way.

To read the full briefing please
If you are not a subscriber, request a free trial of our Global Macro Service by filling out the form below