Trio of Interest-Rate Hikes to Buck Emerging-Market Easing Trend

As optimism grows that more developing nations can start unwinding painful interest-rate hikes, policymakers in three big emerging markets still have work to do to bring inflationary pressures to heel and backstop their ailing currencies.

Central bankers in Turkey, South Africa and Russia — home to the three worst-performing currencies outside Argentina this year — will hold meetings this week to decide on their next monetary-policy steps. Economists surveyed by Bloomberg say rates will have to go higher in all three.