Russia's central bank held its key interest rate at 16% for the third meeting running on Friday, but raised its inflation forecast for 2024, acknowledging for the first time that it may struggle to reach its 4% target this year.

Argentina’s central bank cut its key interest rate for the fourth time since President Javier Milei took office in December as officials bet on a sustained slowdown in inflation in the South American nation.

Turkey's central bank held its key interest rate steady on Thursday but warned it could hike it again as the country's soaring inflation remains a headache for President Recep Tayyip

The decision comes after an unexpected hike of 500 basis points last month that increased rates from 45% to 50% as monetary tightening resumed after a one-month pause.

Emerging Asia’s worst-performing sovereign bonds are at risk of further declines as the Philippine central bank looks to delay monetary easing due to inflation fears and a weak peso.

In a move aimed at economic stimulus, the National Bank of Ukraine has lowered the key policy rate to 13.5%. Consequently, the rates on financial instruments like overnight deposit certificates and three-month deposit certificates have been adjusted down to 13.