HSBC sees 6 US rate cuts until June 2025 in boon for Hong Kong’s economy and investments

Quick Summary:

Lower rates will benefit the city’s economic recovery, but there has been no immediate increase in demand for loans, HSBC Hong Kong CEO Luanne Lim says.

She said HSBC had considered a rate cut ahead of the Fed meeting last month “based on the macro economy, the level of interbank rates, and our cost of funding”.

The Fed’s rate target range may drop to 3.25 to 3.50 per cent by next June.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong Kong

Topics: Rates Cost Local Hong Federal Kong Rate Cuts Hsbc According Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-07 @ 08:00:22 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 245 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22915155

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Official Website: scmp.com

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