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UBS's Weber says Europe, U.S. rate hike cycles on hold

Axel Weber Chairman of UBS arrives at 10 Downing Street in London, Britain January 11, 2018. REUTERS/Peter Nicholls

DAVOS, Switzerland (Reuters) - Swiss bank UBS UBSG.S Chairman Axel Weber said on Tuesday that central banks in Europe and the United States seem to be on hold in their interest rate hike cycles.

In a seminar at the World Economic Forum in Davos, Weber also said normalisation of crisis-mode, ultra-easy monetary policies of major central banks likely won’t happen in the current economic expansionary cycle and will instead be “an issue for the next cycle.”

Reporting by Dmitry Zhdannikov and Leika Kihara; Editing by Mark Trevelyan

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