Hong Kong Central Bank Cuts Interest Rate Tracking Fed Move, Banks Follow
Hong Kong's Unemployment Rate Unchanged in September-October
Timely lowering of reserve requirements and interest rates, preventing and resolving risks in key areas, maintaining stable Exchange Rates. The central bank, financial regulatory authority, and Forex bureau collectively responded on how to proceed next ye
① The central bank also pointed out the need to explore and expand the macro-prudential and financial stability functions of the central bank, and effectively implement two monetary policy tools to support the stable development of the Capital Markets. Experts indicate that this statement significantly improves market expectations and enhances market anticipation for a slow bull market trend in the medium to long term; ② The Financial Regulatory Bureau pointed out the necessity to effectively prevent and resolve risks in key areas, continuously improving the quality and effectiveness of financial regulation, and promoting high-quality development in the Banking and Insurance industries.
Hong Kong: Preliminary Statistics indicate that the GDP grew by 1.8% year-on-year in the third quarter.
According to the analysis of the service Industry by composition and comparison with the same period last year, the total value added by all service activities effectively increased by 1.9% in the third quarter of 2024, which is similar to the 2.0% increase in the second quarter.
How will the last "Super Central Bank Decision Week" of 2024 unfold?
In summary, last week, the dollar ended its pullback and resumed upward movement, rising for five consecutive days, while other non-MMF currencies experienced varying degrees of decline.
The central bank will implement a moderately loose monetary policy and timely reduce the reserve requirement ratio and interest rates to maintain ample liquidity.
① Implement a moderately loose MMF policy effectively. ② Better support key areas and weak links of high-quality development.
