Hong Kong banks may increase lending rates for the first time in 12 years as early as September, meaning bad news for the city’s home mortgage borrowers and credit card holders as well as for companies with heavy debt loads.
Their cue would come from a rise in US interest rates by the Federal Reserve, which analysts see as more likely following increasing signs of strength in the US economy. Hong Kong’s Monetary Authority is obliged to follow US rate changes to maintain the Hong…
Source : South China Morning Post
Read more…Hong Kong’s homebuyers face first rise in mortgage costs in 12 years as early as September















