top of page

HKMA chief says global economy more resilient than expected


Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority (HKMA), has stated that the global economy is proving more resilient than expected, despite tightening monetary conditions. Speaking at the China Investment Corporation Forum, Yue said there has been an improvement in macroeconomic conditions and relief in supply chain disruptions and inflation pressures since Q2. He suggested that central bank interest rates may be near the peak of their tightening cycle, making a “soft landing" more probable than a recession. However, Yue noted ongoing uncertainty regarding core inflation meeting central banks' targets. Amid these economic uncertainties, he emphasised the need for adequate portfolio liquidity and mentioned potential actions like increasing cash reserves. Meanwhile, PricewaterhouseCoopers has recommended reducing the stamp duty on stock trading in Hong Kong by 50%.

Comments


bottom of page