HKMA Reminds Corporates and Banks to Remain Vigilant About U.S. Interest Rates

Despite the Federal Reserve’s decision to keep interest rates unchanged, the Hong Kong Monetary Authority cautions bankers and investors to beware of the risks of a US rate rise later this year, reports the South China Morning Post.

“[The US Federal Open Market Committee] acknowledged that the US economy continued to progress towards the Fed’s policy objectives of maximum employment and price stability, bolstering the case for gradually raising interest rates this year,” according to a spokesman for the central bank.

“We continue to remind banks, corporates and individuals to remain vigilant and manage risks prudently so as to cope with potential changes in capital flows and market volatility arising from future increases in US interest rates.”

 

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