Central banks in emerging economies are struggling to respond to a double bind of slowing growth and war-driven inflation, unlike their counterparts in advanced economies, where artificial intelligence investment has energized activity. Japan's Nihon Keizai Shimbun reported on the 30th, citing data from Maruyama Yoshimasa, a researcher at SMBC Nikko Securities, that the average policy rate in emerging economies stood at 7.4% as of the 23rd of last month, down 0.13 percentage point from February, when the Iran war began. That compares with an average policy rate of 3.02% in advanced economies, up 0.31 percentage point from February — meaning emerging-market rates moved in the opposite direction.
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