Topic
Global monetary policy
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- The world’s debt nearly set a record high in the first quarter of 2023, with sharp increases in mature markets, according to the Institute of International Finance
- Findings come as senior Chinese finance officials have been reiterating concerns over capital outflows from emerging markets, whose debt is up 34 per cent since 2019
People’s Bank of China Governor Yi Gang addresses finance ministers in Washington in first trip to US capitol by a senior Chinese economic official since pandemic.
Malaysian Prime Minister Anwar Ibrahim said Xi Jinping welcomed discussion on reviving a decades-old idea for the establishment of an Asian monetary fund during a meeting in Beijing last month.
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HSBC’s move to keep its prime rate unchanged was followed by its subsidiary Hang Seng Bank, crosstown rivals Standard Chartered and Bank of China (Hong Kong). Analysts said this will have a positive impact on Hong Kong’s property sector and economy.
