Emerging Markets Brace for Rate Hikes With Debt at Records Bloomberg 3/15/2021 Michelle Jamrisko and Eric Martin (Bloomberg) -- Alarm bells are starting to ring across emerging markets as countries brace for a new era of rising interest rates. Popular Searches After an unprecedented period of rate cuts to prop up economies shattered by Covid-19, Brazil is expected to raise rates this week and Nigeria and South Africa could follow soon, according to Bloomberg Economics. Russia is considering tightening monetary policy sooner than previously signaled, said a person with knowledge of its central bank’s discussions. Behind the shift: Renewed optimism in the outlook for the world economy amid greater U.S. stimulus. That’s pushing up commodity-price inflation and global bond yields, while weighing on the currencies of developing nations as capital heads elsewhere.