Jan
30
Powell’s `Patience’ Is Relief for Hong Kong as Pressures Mount
By-
Housing market showing signs of broad-based price declines
- Fed on hold means banks won’t have to raise interest rates
The Federal Reserve’s signal that the pace of interest rate hikes this year will be cautious is respite for Hong Kong’s economy.
Because the Asian finance hub pegs its currency to the dollar, Hong Kong effectively imports U.S. monetary policy. That means borrowing costs are expected to push higher in tandem with Fed rate hikes, pressuring a housing market that’s already showing signs of strain…
Powell’s `Patience’ Is Relief for Hong Kong as Pressures Mount
