Fed rate likely to be slashed by one to two times with a cut of 25 bp each

HSBC Great China Chief Economist George Leung said that a number of interest rate cuts has eased the slowdown of US economy. If the economy could bottom out by the end of this year, it should be able to pick up and lead foreign markets. Hong Kong stands to benefit. He held that in the year's fourth quarter, the US should still have room for another interest rate cut. He projected the Fed rate to be slashed by one to two times with a cut of 25 bp each. That means in the rest of this year the Fed may cut interest rate by 50 bp the most.

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