Morgan Stanley cuts global economic growth expectation

Morgan Stanley forecasts that the global economic growth for this year would account for 1.8%, the economic growth in the US, Europe, the PRC and Hong Kong for the same period would be 1%, 1.6%, 7.4% and -0.3% respectively. The firm also estimates that the prime rate of banks in Hong Kong would be reduced to 5.3% from 5.5% by the end of this year.

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