www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

   

Fed move prompts 2nd rate cut

By Karen Cho and Hui Ching-ho (China Daily HK Edition)
Updated: 2007-11-02 16:12

Hong Kong lenders slashed prime lending interest rates for the second time in two months after the US Federal Reserve announced on Wednesday that it will trim interest rates by 25 basis points to boost the struggling US property market.

Hong Kong and Shanghai Banking Corp, Hang Seng Bank, Bank of China (Hong Kong), Bank of East Asia and Standard Chartered Bank are among the major local banks that decided yesterday to follow the Fed's lead to roll back interest rates by 25 basis points.

"The Hong Kong Interbank Offered Rate had eased somewhat so there is room for banks to cut interest rates," said Hang Seng chief executive Raymond Or Ching-fai yesterday.

The recent spate of initial public offerings and the weak US dollar had gripped Hong Kong's capital markets, driving the inter-bank offered rate up. The Hong Kong Monetary Authority had to inject capital into the market four times in the past two weeks in an attempt to ease the HIBOR and keep the peg rate to the US dollar.

Hong Kong and Shanghai Bank Corp executive director Peter Wong Tung-shun said that the US decision to cut rates had relieved some pressure on the HIBOR.

"The one to three month benchmark HIBOR had receded 60 basis points this (Thursday) morning. That is the reason why we have decided to trim the prime rate," said Wong.

However, whether more lending rate cuts will be forthcoming, Wong said, will depend on capital market conditions after cash frozen up by the fervent IPO activities are released.

This is the second time Hong Kong lenders cut lending rates this year. Last month, at the height of the US subprime crisis, the Fed announced a 50 basis point cut to interest rates. The move prompted local banks to trim lending rates by 25 basis points.

Cheung Kong Holdings Senior Sales Manager William Kwok predicted that the rate cut would encourage property sellers to put their flats on hold for a possible price rise in future. "Transactions are expected to stay flat over the coming one to two weeks as a result of lengthened bargaining between buyers and sellers."

He added that the market has digested the rate reduction. "We expect a year-end correction of the property market because some prospective buyers will take a wait-and-see attitude in anticipation of a pay raise."

Midland Property Group Executive Director Vincent Chan said lower mortgage rates would invigorate the property market. "The property sector will remain bullish in the long run, despite an unlikely transaction boom in the immediate future."

Centaline Finance Director & General Manager Hendrick Leung said that some small lenders might have to offer new mortgage applicants some sweeteners such as cash rebate because of the erosion of their interest revenues.

Hon Kwok Project Management Director and General Manager David Ma said the extent of the rate cuts were widely expected. "It will just have a psychological rather than a practical impact on the housing market."



Top World News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 欧美日本一区二区三区生 | 国产激情久久久久影 | 久久国产乱子伦精品免费不卡 | 中国美女乱淫免费看视频 | 久久精品爱国产免费久久 | 91pao强力打造免费高清 | 日韩黄色免费观看 | 久久公开视频 | 国产精品日韩欧美 | a级成人毛片久久 | 国产精品成aⅴ人片在线观看 | 日本一级特黄毛片高清视频 | 日日碰碰 | 久久精品亚洲 | 香蕉99国内自产自拍视频 | 午夜免费理论片a级 | 99免费精品视频 | 国产粉嫩高中生无套第一次 | 久久中出 | 日本九九视频 | 久久中文字幕久久久久91 | 另类综合视频 | 国产精品亚洲第一区二区三区 | 日本在线视频不卡 | 精品国产自 | 性欧美成人依依影院 | 日本一二线不卡在线观看 | 日本a级毛片免费视频播放 日本a级三级三级三级久久 | 免费人成年短视频在线观看网站 | 亚洲国产第一区二区三区 | 日韩乱码中文字幕视频 | 大片国产片日本观看免费视频 | 精品400部自拍视频在线播放 | 在线不卡一区二区 | 日韩欧美理论片 | a级淫片 | 成人一级黄色片 | 精品国产免费第一区二区三区日韩 | 久青草国产97香蕉在线视频xx | 日本午夜精品 | 看全色黄大色黄大片毛片 |