Hong Kong Monetary Authority: The US has entered a cycle of interest rate cuts, which will not affect Hong Kong's financial and monetary stability
The Hong Kong Monetary Authority Deputy Chief Executive Eddie Yue said on the 19th that the Federal Reserve's current rate hike cycle began in March 2022 and will continue until July 2023, with a cumulative rate hike of 525 basis points. After a period of ups and downs, US inflation has now largely confirmed a downward trend, and there are also signs of a slowdown in the labor market. Therefore, the Federal Reserve has decided to cut interest rates by 50 basis points, which is largely in line with market expectations. (Jinshi)
