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CNY/HKD News
In October, Hong Kong's CPI rose by 1.4% year-on-year and increased by 2.2% month-on-month.
In October 2024, Hong Kong's overall consumer prices increased by 1.4% compared to the same month last year, which is lower than the corresponding increase in September 2024 (2.2%).
IMF Says Egypt Program Review Talks to Continue After 'Progress'
PBOC Leaves Loan Prime Rates Unchanged in November
At the end of October, Hong Kong's composite interest rate fell to 2.3%.
The Hong Kong Monetary Authority announced that the comprehensive interest rate reflecting the average funding cost of banks was 2.3% at the end of October, a decrease of 5 basis points from the 2.35% at the end of September. The decrease in the comprehensive interest rate mainly reflects the reduction in the weighted funding cost of deposits within the month.
Hong Kong's Unemployment Rate Rises to 3.1% in August-October
Charting the Global Economy: US Inflation Progress Stalls
The central bank today conducted a 981 billion yuan reverse repurchase operation for 7 days, with short-term fluctuations in liquidity being controllable, and the market expects a possible reserve requirement ratio cut in November.
①Today, 12.2 billion yuan reverse repos will mature, in addition to 1450 billion yuan MLF and 80 billion yuan of treasury cash deposits maturing. The central bank conducted a 981 billion yuan 7-day reverse repo operation. Industry insiders believe that under the new framework of the central bank, there may be a reserve requirement ratio cut once this year, possibly as early as November.
Wall Street survey: Trump 2.0 may cause the economy and inflation to experience a roller coaster ride as investors reassess in the financial markets.
According to the monthly fund manager survey of bank of america, after Donald Trump's victory, global investors have changed their expectations for the global economy. Now they expect faster economic growth and higher inflation than before.
Trump's trade boosts the continuous strength of the usd, with the offshore renminbi close to the 7.25 threshold, how to hedge against the not weak USD?
① The offshore RMB experienced a sudden surge of over 150 basis points, approaching the psychological barrier of 7.25. ② In the future, it will be crucial to focus on whether the domestic stimulus policies related to internal demand can continue to maintain their strength in order to offset the impact of external risks on the RMB exchange rates.
China's Broad Money Supply Grows 7.5% in October
China's Newly-Issued Loans Fall 69% in October, Missing Estimates
Goldman Sachs: Trump's big stick of tariffs will target more Asian countries and regions.
① With Trump winning the presidential election in the usa, it has raised concerns in the market about tariff issues; ② In recent years, south korea, Vietnam, and other countries have obtained huge trade surpluses with the usa, which may become the next target of Trump's tariff policy.
Over 1.5 trillion funds will mature this week, and the market is once again calling for reserve requirement ratio cuts and interest rate cuts. Will the reserve requirement ratio be cut in late November to lower interest rates early next year?
1. Mid-term interest rate cuts are subject to dual constraints of exchange rates and net interest margins; it is more feasible to reduce the reserve requirement ratio in the short term, and it is expected to be announced in late November and implemented in early December. 2. To maintain flexibility, it is necessary to retain the possibility of offsetting the additional tariffs imposed by the United States through devaluation. 3. The best window for further interest rate cuts in China is expected to be before Q1 of 2025.
Express News | Paul Chan Mo-po: It is expected that Hong Kong's full-year economic growth will be around 2.5%.
Hong Kong Foreign Currency Reserves Slide in End-October
HKMA: Interest rates may remain at relatively high levels for a period of time.
The Federal Reserve in the USA cut interest rates by 0.25 basis points. The Hong Kong Monetary Authority stated that as expected by the market, the Fed further lowered interest rates, implementing a looser monetary policy. However, the future pace of rate cuts depends on the economic data in the USA, which will be affected by fiscal and economic trade policies, thus there are still many variables. Additionally, since the monetary policy environments of major economies are not necessarily fully synchronized, the risk of global market volatility is worth noting. The Hong Kong Monetary Authority mentioned that the financial and monetary markets in Hong Kong are operating smoothly, with stable market liquidity and a stable exchange rate of the Hong Kong dollar. The Hong Kong dollar's interbank interest rates are generally approaching the US dollar rates under the linked exchange rate system, while shorter-term interbank rates.
The Hong Kong Monetary Authority has lowered the basic interest rate by 25 basis points to 0.5%.
After the usa Federal Reserve cut interest rates by 0.25 percentage points again, the Hong Kong Monetary Authority lowered the discount window base rate by 25 basis points to 5 percent. (wl/w)~
Hong Kong Monetary Authority cuts benchmark interest rate to 5.00%.
November 8th, Kwong Wah ｜ The Hong Kong Monetary Authority lowered the benchmark interest rate to 5.00%, down from 5.25% previously. Overnight, the Fed announced a 25 basis point rate cut.
The 'Trump trade' fever shows no signs of abating, and today Powell may face a difficult situation.
On Thursday (November 7th) during the trading session in Europe, global stock markets rose, following record highs in the usa stock market, while usa treasuries were under pressure as investors were digesting Trump's victory before policy decisions by the Federal Reserve and other major central banks.
HKMA: Official forex reserves slightly decreased to $421.4 billion by the end of October.
The Hong Kong Monetary Authority announced that the official forex reserves at the end of October this year were $421.4 billion, a slight decrease of 0.3% from the $422.8 billion at the end of the previous month. There were no outstanding forex contracts at the end of October or September. The total forex reserves of $421.4 billion is equivalent to more than five times the circulating currency of Hong Kong, or about 39% of the mmf supply M3 in Hong Kong.