Property News · May 22, 2018

Is the race to raise deposit rates the harbinger that could deflate Hong Kong’s property bubble?


Many of Hong Kong’s largest banks have been in a race to promote fixed-time deposit schemes, themed around Mother’s Day with offers of higher interest rates to attract more savings – a clear sign that lenders are scrapping over new customers as more capital continues to flow out of the city.
While most small depositors still earn zero interest on savings accounts, banks are now offering larger depositors higher rates.
HSBC, Bank of China Hong Kong (BOC HK), Citi and many…

Source : South China Morning Post
Read more…Is the race to raise deposit rates the harbinger that could deflate Hong Kong’s property bubble?

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