Stability in financial markets is currently “as good as it gets” with “sharply improved resilience” to sudden crises, particularly in emerging market economies, the International Monetary Fund said on Tuesday.

Presenting the Fund’s twice-yearly Global Financial Stability Report, Gerd Häusler, director of international capital markets, said that concerns about the effects of higher global interest rates on financial markets were overstated. The recent tightening of monetary policy by the Federal Reserve, the European Central Bank and the Bank of Japan had been well communicated to markets with little disruption.