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February marked another static month for interest rates at major central banks with the much anticipated change of course in the global monetary policy expected to kick in later in the year while emerging market peers soldiered on with easing policy. All four of the central banks overseeing the 10 most heavily traded currencies that held meetings in February - Australia, New Zealand, Sweden and the UK - kept benchmark lending rates unchanged. The U.S. Federal Reserve, the European Central Bank, the Bank of Japan, the Bank of Canada, the Swiss National Bank and Norges Bank did not meet.

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