Highest number of EMs will raise rates this year since 2006: JP Morgan

Between 2015 and early 2018 developing countries, big and small from Brazil and Russia to Armenia and Zambia slashed interest rates

This year will see more emerging market countries raise interest rates than at any point since the pre-financial crisis uplands of 2006, analysts at JP Morgan predict.

A presentation by the US investment bank showed 19 of the 24 emerging economies it follows are likely to lift borrowing rates. Only one country, Malaysia, will keep them on hold, while Nigeria, India, China and Turkey are set to cut their rates.

The list wasn't exhaustive, and didn't include the likes of Argentina, for example, which more than doubled its interest rates to an eyewatering 60 percent last year as its currency collapsed.

JP Morgan's