Industry dismisses prospect of 1994 meltdown
The US Federal Reserve's exit from quantitative easing won’t spark emerging-market panic, as monetary tightening once did in 1994, believe investors, economists and analysts.
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US Federal Reserve chairman Ben Bernanke's speech on Wednesday outlined the central bank’s intentions to end quantitative easing by the end of 2014, and yesterday Asian financial markets were in turmoil, with Jakarta's index down 3.7%, Manila down 2.9% and Tokyo's Nikkei 225 down 1.7%. But investors, economists and analysts are confident a 1994-style meltdown is not in the cards.
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