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Chinese yuan at one-month low against dollar

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Polish inflation at 4.9% YoY in September

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EM stocks down 0.8%, FX off 0.2%

By Shashwat Chauhan

Oct 15 (Reuters) - A gauge of emerging market stocks

slipped on Tuesday as heavyweight Chinese shares came under

pressure following their recent blistering rally, while focus

remained on a slate of central bank rate decisions due later

this week.

MSCI's index for emerging market stocks slipped

0.8% by 0820 GMT, while a gauge for currencies

dipped 0.2%, touching a one-month low.

Local media reported that China might raise an additional 6

trillion yuan ($850 billion) from special treasury bonds over

three years to stimulate a sagging economy, a figure that failed

to revive sentiment in the country's stock market.

The Shanghai Composite and the blue-chip CSI300

declined more than 2% each. Chinese shares have been

on a tear since late last month when Beijing announced a bevy of

stimulus measures to prop up its ailing economy.

The yuan lost 0.5% against the greenback in offshore

trading, hitting a one-month low.

In emerging Europe, Poland's zloty held firm at

4.297 per euro. Data showed that Polish inflation stood at 4.9%

year-on-year in September.

Focus this week would be on the European Central Bank's

(ECB) policy decision on Thursday, with markets pricing in a

25-basis-point rate cut.

"An October cut is our baseline, but we would also not be

surprised if ECB President Christine Lagarde refrained from

cutting," strategists at ING said in a note.

"Markets are poorly positioned for such a disappointment and

a broader risk-off mode would seem likely in this case."

South Africa's rand weakened 0.2% against the

dollar, which held firm on continued hopes that the Federal

Reserve would opt for smaller interest rate cuts this year.

Citing a recent uptick in inflation and data showing the

U.S. economy and labour market are stronger than previously

thought, Fed Governor Christopher Waller late on Monday called

for "more caution" on rate cuts ahead.

Most EM assets have come under pressure recently as rising

hopes of smaller Fed rate cuts, faltering expectations around

Chinese stimulus and elevated geopolitical worries have kept

investors wary of risk taking.

A plethora of interest rate decisions across EM nations,

including Indonesia, Turkey and Chile, would also be on the

radar later this week.

Markets would also keep tabs on the heads-of-government

gathering of the Shanghai Cooperation Organisation scheduled for

Tuesday and Wednesday in Islamabad, Pakistan.

HIGHLIGHTS:

** Saudi Arabia's inflation rate inches up to 1.7% in

September

** IMF says global public debt to top $100 trillion, growth

may accelerate

** Romanian central bank currently pausing rate cuts, board

member says