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IMF: Hong Kong property to slow if fed delivers rate hike

According to the International Monetary Fund (IMF), house prices in Hong Kong, the world’s most expensive real estate market, could cool next year if the Fed delivers the rate hikes it has projected, Bloomberg reports.

Sonali Jain-Chandra, IMF Mission Chief for Hong Kong, said in emailed remarks, “"If the Federal Reserve’s plans to increase interest rates over the next year materialize, as expected, we should expect a moderate slowdown of house prices in Hong Kong." 

"If a large and disorderly correction were to happen, the authorities can reverse their current policies to support the housing market," Jain-Chandra added.

Gold crawls back closer to multi-week tops, around $1296 level

   •  Renewed geopolitical risks provide a minor boost.    •  Weaker USD/US bond yields lending additional support.    •  US GDP revision and Yellen
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