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2024 Fed Cuts Will Boost Yuan - Hao Hong

CHINA PRESS
MNI (BEIJING)

The Fed will begin benchmark interest rate cuts in 2024 which will strengthen the yuan and open up monetary-policy space for The People’s Bank of China, according to Hao Hong, chief economist at Grow Investment Group. Speaking at a recent conference, Hao said the Chinese stock market will no longer be restrained by the yield of U.S. long-term bonds in 2024 and will once again become reactive to PBOC policies. Next year, traders should expect the Shanghai Composite Index to move between 3,000 and 3,500 points, and the Hang Seng Index between 16,000 and 20,000 points.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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