"Our sense is they won't, but given the economy seems to be a bit stronger we could see a more dovish stance than we got used to in the second half of last year."
South Africa's rand surged to 2½-year highs earlier this week on hopes Deputy President Cyril Ramaphosa will be able to turn the country around and President Jacob Zuma will be pushed out early.
Ramaphosa made some of his toughest comments yet on Thursday, welcoming moves taken by prosecutors against companies accused of corruption, saying he wants to "deal with the rot."
In emerging Europe, the Czech crown underperformed its regional peers following the cabinet's resignation, a day after losing a confidence vote.
Romania's leu was also a touch weaker after compromise candidate Viorica Dancila was appointed PM-designate. The deal means the risk of a long drawn-out political crisis is averted.
Hungary will hold its first long-term interest rate swap tender today, aimed at encouraging long-term bank lending at lower interest rates. This is one of a number of unconventional easing measures from the central bank.
"One of the policies is a mortgage bond purchase program which appears to be a form of quantitative easing, and the whole aim seems to be to drive down long-term bond yields," Jackson said.
This article was provided by Reuters.