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Life still left in the EM easing cycle

The outcomes of the EM central bank meetings over the past 48 hours or so underscore the point that, while the EM monetary easing cycle is likely to continue over the coming quarters, it will no longer be led by Central Europe and Latin America. Central banks in Emerging Asia, which have generally yet to cut so far, are likely to play a much bigger role in the next phase of the cycle.

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