Chicago Federal Reserve president Charles Evans said growth in “the US economy has slowed but is still robust”, during a panel discussion in Hong Kong on Monday. Photo: K.Y. Cheng

US recession chance ‘no more than 25 per cent’ says Chicago Federal Reserve chief as fear grips markets

  • Asian stock markets plunged on Monday, with benchmark indices declining from Seoul to Sydney, after the Dow Jones Industrial Average plunged on Friday
  • Charles Evans says the US Federal Reserve’s monetary policy is appropriate and it is keeping its eyes on economic data
Topic |   Global interest rates

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Chicago Federal Reserve president Charles Evans said growth in “the US economy has slowed but is still robust”, during a panel discussion in Hong Kong on Monday. Photo: K.Y. Cheng
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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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