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

The data from Jinshi on August 24th, Powell, Chairman of the Federal Reserve, explicitly stated that the time to cut interest rates has come. Leung Siu Ki, a senior consultant at Hang Seng Bank, said on a radio program on the 24th that there is a high chance of a rate cut in September, estimated at a drop of 1/4 basis point (25bp). He expected the Federal Reserve to cut interest rates twice this year, each time by 1/4 basis point, which means a potential 50 basis point cut by the end of the year. He believes it will be good news for Hong Kong. Leung Siu Ki pointed out that the rate cut will relatively reduce the credit costs of various industries, while also boosting market sentiment and hopefully increasing business flow.