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MNI BRIEF: HKMA Chief Warns Of More Rate Hikes

MNI (BEIJING)
MNI (Beijing)

Hong Kong Monetary Authority chief executive Eddie Yue on Thursday warned borrowers in the financial hub to brace for more rate hikes as the Federal Reserve telegraphed more tightening of U.S. monetary policy was coming.

“Manage your risks accordingly when making borrowing decisions” Yue said in a statement. He added that continued U.S. rate hikes “will not affect the financial and monetary stability of Hong Kong” and “our monetary and financial markets continue to operate in a smooth and orderly manner”

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Hong Kong Monetary Authority chief executive Eddie Yue on Thursday warned borrowers in the financial hub to brace for more rate hikes as the Federal Reserve telegraphed more tightening of U.S. monetary policy was coming.

“Manage your risks accordingly when making borrowing decisions” Yue said in a statement. He added that continued U.S. rate hikes “will not affect the financial and monetary stability of Hong Kong” and “our monetary and financial markets continue to operate in a smooth and orderly manner”

Keep reading...Show less