Asian central banks on Thursday refrained from joining their North American and European counterparts in taking emergency action to boost market liquidity, underlining what economists dubbed a much healthier funding environment in the region.

The contrast in responses “absolutely confirms how different the situation is in Asia,” said Glenn Maguire, Asia chief economist at Societe Generale. “There are some funding strains in Australia, Korea and China but nothing significant enough to warrant any change [in the stance of central banks].”