Fed grants reprieve to emerging markets

THE Federal Reserve's decision not to raise its benchmark interest rate in September has given emerging a markets a small reprieve, the World Bank says.

THE head of the World Bank says the Federal Reserve's recent decision not to raise interest rates immediately will give breathing room to developing countries working on reforming their economies.

IN an interview with The Associated Press on Thursday, President Jim Young Kim also said China's current slowdown was "entirely predictable" but that the slower growth will lead to a more sustainable Chinese expansion in the long run.