Dec 7, 2010
| Last Updated
- Hong Kong’s recovery will settle into a more sustainable pace in 2011.
- Rising asset prices will fuel further credit expansion, adding additional
inflationary pressures as the output gap narrows.
- Hong Kong cannot tighten its monetary policy, nor will it abandon the USD
peg in 2011, but it can tighten fiscal policy to provide some counter effect.
Growth Dynamics: Rebounding Nicely
Thanks to rising asset prices and resilient trade flows, the slowdown in H2
2010 has been less severe than we anticipated, requiring us to revise upward our
forecast for the year. We now expect
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