World Bank trims Asia forecast but says no China hard landing

Singapore

THE World Bank on Monday cut its growth forecasts for developing economies in East Asia and the Pacific but allayed fears of a hard landing for China's slowing economy.

The bank also said it expects any increase in US interest rates to have an orderly impact but warned of a risk that markets could react sharply, causing regional currencies to fall further.

In a report on 14 economies led by China, the bank called on them to mitigate the impact of t…