The Federal Reserve is as expected to raise interest rate hikes 75 basis points. Chen Maobo, director of the Hong Kong Financial Secretary, believes that the Hong Kong property market will not have a cliff -like adjustment.
According to Sing Tao Daily, Chen Maobo said on Thursday (September 22) that as global interest rises and the peripheral environment continues to worse, it is expected that the possibility of negative economic growth in Hong Kong this year is very high.
He said that the rise in interest has caused the burden on the property supply to rise, the atmosphere of the Hong Kong property market will be affected, and the transaction will be cautious, but he believes that the property market will not have cliff -like adjustments.
After the third interest rate hike on Wednesday (September 21) in the United States, Hong Kong also announced that the basic interest rate will increase by 75 basis points, which will take effect immediately.Since 1983, the Monetary policy of the Hong Kong HKMA has been consistent with the Federal Reserve to ensure that Hong Kong dollars are linked to the US dollar.
