Hang Seng Bank experts expect the Federal Reserve to cut interest rates twice this year, which is good news for Hong Kong

Fed Chairman Powell has made it clear that the time has come to cut interest rates. Hang Seng Bank senior consultant Leung Siu Kei said on a radio program today that there is a high chance of a rate cut in September, and it is estimated that it may be cut by 1/4 percentage point (25bp). He expects the Fed to cut interest rates twice this year, 1/4 percentage point each time, which means that it may cut interest rates by half a percentage point (50bp) by the end of the year, which is believed to be good news for Hong Kong. Leung Siu Kei said that the interest rate cut will reduce the credit costs of various industries relatively, and at the same time it can boost the market atmosphere and hope to increase business flow. (Hong Kong Commercial Daily)