The decision by Hong Kong banks to follow the US Federal Reserve’s interest rate cut will help the city’s economy by easing loan repayments for mortgage holders, the finance chief has said, while revealing that local economic growth was doing “okay”.
“I welcome the rate cut, as it could lower the pressure on residents and businesspeople paying their mortgages,” Financial Secretary Paul Chan Mo-po told the Post in an interview in Riyadh.
He was referring to the recent move by Hong Kong’s major…