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Despite recent rate hikes worldwide, the move won't become a global trend. Earlier we spoke with Sir Howard Davies, the director of the London School of Economics. He believes Europe and the U.S. won't change their monetary policies this year.
Sir Howard Davies, Director of London School of Economics said "Emerging markets will continue to increase rates... But I don't expect any changes in Europe, or the UK, or the U.S. The economy is slow enough and risk of inflation is very small... They will remain loose monetary policies."