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(2/2) -Philippine BSP (Thurs)......>

EMERGING MARKETS
EMERGING MARKETS: (2/2)
-Philippine BSP (Thurs) O/N rate exp. unchanged at 4.75% but likely to retain
dovish tilt under new CB head. Diokno. In his first presser, highlighted the
bank's room to ease policy under current inflation dynamics.
-Indonesia BI (Thurs) 7-day RR rate exp. unchanged at 6.00%, but dovish tilt
could be forthcoming after 175bps of hikes in past 12 months, potentially
signalling the ceiling of the current rate cycle.
-Russia CBR (Fri) Key rate exp. unchanged at 7.75%. Stronger RUB and 2018's
50bps of tightening to keep CBR on hold, but bias is still for more tightening
in 2019.
-Colombia CBC (Fri) O/N lending rate exp. unchanged at 4.25%. Weaker inflation
and still-soft consumer confidence to keep policy on hold.

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