EME officials predict volatility from ‘higher for longer’ rates
Fed’s policy set to worsen environment, say officials from Peru, Colombia and South Africa
Senior emerging market central bankers predict a difficult year ahead, as the US keeps rates high, potentially fuelling global volatility.
“The challenges are huge,” said Leonardo Villar, Central Bank of Colombia governor, told an event hosted by the Reinventing Bretton Woods Committee, a US-based foundation. Continuing high inflation in many emerging market economies has forced central banks to maintain “very contractionary monetary policies in a context where economies are decelerating”.
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