Emerging-Market Stocks Rise on ECB Signals; Currencies Mixed
- Brazilian real advances, while Turkish lira declines
- Russian equities jump as Rosneft surges on Glencore deal
EM Outperformed in Massive Way in 2016: Rooney Vera
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Emerging-market stocks rallied the most in a month as the European Central Bank signaled it stood ready to add to stimulus after a decision to cut its monthly pace of bond buying.
The ECB’s Governing Council will slow down its bond-buying program in April to a monthly speed of 60 billion euros ($65 billion) from 80 billion euros currently, according to a statement in Frankfurt on Thursday. ECB President Mario Draghi denied a "taper" is in place and said quantitative easing is open-ended and inflation will remain too feeble well past the supposed new end-date.