Source: Sing Tao Daily
The Federal Reserve is lowered this year's economic growth forecast. It will not raise interest rates within this year, and it will greatly shrink the scale of capital funds from the market. Together with the European and Chinese central banks, we have adopted a relatively loose monetary policy to support the economy. Emerging market fundsThe risk of flowing away was greatly reduced, and the Hong Kong Bank continued to immerse themselves, and the mortgage was low, which became an important pillar of holding property prices.
U.S. President Trump wants to support the economy and stock markets. It has publicly criticized the Fed Chairman Powell to raise interest rates earlier. It is crazy. How much this political pressure will affect the Federal Reserve's interest rates, only the insiders know; however, the results of the interest rate of the interest rateMany market participants are expected to be pigeons, the main reason is that the prospects for economic growth are lighter than the previous season.
The Fed lowered the forecast of economic growth this year to 2. %, which was two percentage points slowed down from the expected unexpectedly three months ago.The results of war and Britain's departure from the European Union were unclear and continued to put pressure on the economy.
Sino -US European and European pigeons
Three months ago, the Federal Reserve is also expected to raise interest rates twice this year. However, after the interest rate of interest, the Federal Reserve has a slowdown in economic growth and raised the unemployment rate. Therefore, it will not raise interest rates this year.Although the Fed is still the same as three months ago, it is expected to raise interest rates once next year; however, there are more market participants estimate that once the economy declines, it may not add interest rate reduction at the end of this year.
As for the reduction of the Federal Reserve's sharp expansion of the balance sheet after the financial tsunami, the funds that put the quantitative easing policy to the market that year gradually returned to the cage.After the interest rate this time, the specifically stopped shrinkage in September, and the scale of the national debt shrinkage was reduced from May. In the future, the Federal Reserve's mortgage debt will be transferred to the national debt after the return of funds will be returned to the cage, which will help stabilize the national debtThe price of the government is maintained at the low interest rate of debt issued by the government for tax reduction.
These arrangements made the Fed's four trillion US dollars of funds scattered from the helicopter market that still stayed in the market.The issue of trade war and Brexit also plagued China and Europe, leading to pigeons on monetary policy this month.
Funding Emerging Market
The European Central Bank earlier this month's economic growth forecast of the euro zone this year, which was a 6 % percentage point from 1.7 %. At the same time, it was announced that it would not raise interest rates this year. It was also preparing to restart the long -term refinancing operation to provide low -interest loans for bank banks.
In China, the bank deposit reserve has been reduced because the economy has faced downward pressure. Prime Minister Li Keqiang also stated that this month also stated that it is necessary to significantly reduce taxes and fees, and it does not rule out reducing interest and reduction to support the real economy.
The low -interest environment in the United States continues, reducing the pressure of the US dollar appreciation, and reducing the unstable risk of the withdrawal of funds from emerging markets. Although the Hong Kong Financial Administration has recently entered the market to pick up the Hong Kong dollar to sell, the Hong Kong US interest rate difference will not expand this year, reducing the local area, which has reduced the local area.The pressure of the bank's interest is added.
Hong Kong banks continue to have abundant funds, the low -interest environment continues, the market has less interest rate hikes, and the price of assets is rising.In terms of stock markets, in the face of the unfavorable factors of the slowdown of global economic growth, it will fluctuate.In terms of property market, low interest rates and authorities have reduced the new supply of private buildings in the future, and the power resistance is stronger than the stock market.
