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

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)