Fed is & # 39; not yet finished & # 39; with interest rate hikes: S & P Global Ratings

The latest decision to keep interest rates stable is "good news" for Asia-Pacific economies, Roache says.

With slower global trade growth, Asian and other emerging markets need to rely on domestic demand requiring investment, he added.

"Investment typically means a larger current account deficit for these countries, and investments are also sensitive to interest rates," Roache explains.

"On both sides, lower US prices really contribute to these economies because it means they can run larger customer deficits, they can keep investment rates pretty high," he says. "It's going to be very useful for those economies that will suffer, probably from slowing export growth as we go through this year. "