Fitch: There is variation in the interest rate measures adopted by emerging economies

Fitch Ratings, the international credit rating agency, reported that divergence in policy rates among emerging economies began to be seen.

The statement from the credit rating agency states that while most emerging economies kept their policy interest rates constant, some of them reduced them.

The statement noted that the central banks of developed economies continued to increase official interest rates to permanently reduce core inflation in the aforementioned period.

Turkey EXPLANATION

The statement from the rating agency specifies that interest rates remained constant for the moment in South Korea, Indonesia, Mexico, South Africa, India and Poland, while they were reduced in Brazil and Chile.

The statement claimed that China had cut the policy rate due to the slowdown in economic recovery, and it was claimed that Turkey and Russia took steps to raise the policy rate.

“These moves are likely to raise expectations for a broader-based easing cycle among emerging markets in the coming months,” the statement said. (AA)