US Federal Reserve chairman Jerome Powell speaks during a press conference in Washington on March 20. The Fed left interest rates unchanged after its two-day policy meeting. Photo: Xinhua
David Brown
Opinion

Opinion

Macroscope by David Brown

The Federal Reserve has halted policy normalisation. Now, other central banks should follow suit

  • The Fed’s decision to stop interest rate rises and the shrinking of its balance sheet this year should be a cue for central banks in Europe, Japan and particularly China to take steps to bolster economic activity

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US Federal Reserve chairman Jerome Powell speaks during a press conference in Washington on March 20. The Fed left interest rates unchanged after its two-day policy meeting. Photo: Xinhua
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Liquidity in Hong Kong’s banking system has shrunk to HK$69.9 billion (US$8.9 billion) from HK$76.3 billion at the beginning of the month. Photo: Winson Wong

Fed’s dovish policy will not erase carry trade risks in Hong Kong dollar, analysts say

  • Hong Kong dollar jumped to 7.8451 against the US Dollar on Thursday, its strongest level in six weeks to pull away from the weak end of its trading band
  • The US Federal Reserve earlier brought its three-year drive to tighten monetary policy to an abrupt end, abandoning projections for any interest rate hikes this year
Topic |   Currencies

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Liquidity in Hong Kong’s banking system has shrunk to HK$69.9 billion (US$8.9 billion) from HK$76.3 billion at the beginning of the month. Photo: Winson Wong
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