Asian central banks, govts breathe sigh of relief after Fed lifts off

December 17, 2015 3:16 AM

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Asian central banks, govts breathe sigh of relief after Fed lifts off

SYDNEY Asian governments and central bankers breathed a collective sigh of relief on Thursday after currencies edged up and stocks rallied rather than recoiled at the U.S. Federal Reserve’s decision to raise interest rates.

The prospect of the first hike in U.S. rates in almost a decade had kept emerging markets on edge in the weeks leading up to the Fed's decision, amid fears investors would redirect capital to higher-yielding U.S. debt in a fresh blow to their shaky economies.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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