US rate hikes pose risks to emerging Asia but banks generally sound: MAS

Singapore

THE hiking of interest rates in the US poses risks to emerging Asia's consumers and corporates, but the region's banks are generally sound and should be able to weather it, said Monetary Authority of Singapore (MAS) managing director Ravi Menon.

The overall growth in emerging Asia will remain firm, at 6 per cent this year, and banks in the region will therefore not do badly, he said on Thursday.