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UBS Sees Interest Rates Going Up in South Africa, Nigeria

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Friday, May 23, 2014
0828 GMT UBS analysts have a rundown of rate forecasts for central banks in some key emerging markets in Europe and Africa. It expects Hungary to cut rates by 10 basis points in June and Turkey to follow Thursday's surprise rate cut with another half-point reduction, probably in July, though for Turkey "deeper cuts would be risky, we fear." In contrast, UBS forecasts 50-basis-point rate hikes in South Africa and Nigeria in July. It expects steady policy in the coming months from central banks in Poland, Czech Republic, Romania, Israel, Egypt and Russia. (Brian.blackstone@wsj.com) 
 
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May 23, 2014 04:28 ET (08:28 GMT)

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