### POV: LITTLE ACTION SEEN FROM...>

EMERGING MARKETS: ### POV: LITTLE ACTION SEEN FROM KEY EM CENTRAL BANKS THIS

WEEK (1/2)

-Outside of the UK and Australia, it's a particularly busy week for emerging

market central banks with rate decisions due from over 10 different countries.

In summary:

- Brazil BCB (Weds): SELIC rate exp. unchanged at 6.5%. Likely to be Governor

Goldfajn's final meeting, will likely note deterioration in global trade

environment. Language around "gradual economic recovery" could be a key signal

for future rate cuts.

- Thailand BoT (Weds): Benchmark rate exp. unchanged at 1.75%. Weak Q4 household

consumption and delayed elections to keep policy accommodative for now.

- Poland NBP (Weds): Base rate exp. unchanged at 1.5%. MPC members have been

talking down prospects of near-term rate hikes in recent weeks as low inflation

and low wage hikes continue to bite.