Hong Kong Developers Struggle as U.S. Federal Reserve's Monetary Policy Adds Financial Pressure
Hong Kong developers face difficulties due to the U.S. Federal Reserve's "higher for longer" monetary policy intended to curb high inflation. Hong Kong developers face financial pressure from rising interest rates that increase borrowing costs and have caused sharp stock price declines over debt repayment concerns. The Fed's interest rate hikes are strengthening the US dollar, which is pegged to the Hong Kong dollar, putting pressure on emerging market currencies and making Hong Kong property less affordable.
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