Posted 12/19/2023, 11:00:20 PM
Hong Kong Economy and Property Market Could Get Boost from Expected US Rate Cuts in 2024
- Hong Kong economy and property market expected to benefit from US Federal Reserve interest rate cuts starting as early as March 2024
- Rate cuts would relieve pressure on Hong Kong mortgage borrowers and help boost property market recovery
- HKMA CEO Eddie Yue believes rate cuts more likely in 2nd half of 2024, while some analysts predict as early as Q2
- Lower rates could attract capital back to Hong Kong stock market and Asian economies, halting further yuan devaluation
- Banking sector also stands to benefit from interest rate cuts next year as long as they are not too drastic