SINGAPORE (Dec 5): Central banks will be tightening monetary policies in 2018, but this is no cause for alarm, as higher rates could usher in opportunities, according to financial firm UBS in its The Year Ahead 2018.

With global GDP expanding at its fastest pace in six years, central bankers believe economies are now strong enough for them to start withdrawing stimulus.

UBS expects the US Federal Reserve (Fed) to reduce its balance sheet over the course of the year and to increase interest rates at least twice.

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