Lagarde tells emerging markets to prepare for US rate hike

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Christine Lagarde

Emerging markets need to ensure they have suitable defences in place ahead of a likely rate hike by the Federal Reserve later this year, IMF managing director Christine Lagarde said today.

In a speech at the Reserve Bank of India, whose governor, Raghuram Rajan, has accused the Fed of showing scant regard for the spillovers created by its policies, Lagarde stressed US policy could benefit emerging markets as well as harming them.

Unconventional policies have had "strong, positive spillovers" for

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