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HSBC HOLDINGS Chairman Brendan Nelson Expects Major Central Banks to Hold Steady This Yr w/ Strong Recovery in HK Mkt
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Brendan Nelson, Chairman of HSBC HOLDINGS (00005.HK), said at the HSBC Global Investment Summit that, given the unresolved impact of the Iran conflict, a cautious approach should be taken toward global growth, trade and inflation forecasts at this time. Since the conflict began, most central banks have adopted a wait-and-see approach, Nelson noted. If the conflict were to be resolved quickly, though this currently appears unlikely, the US Fed, the European Central Bank (ECB) and the Bank of England (BoE) are expected to keep interest rates unchanged this year. The longer the conflict drags on, the more likely it is that fiscal policy in multiple markets may need to tighten. Regarding China, he stated the government work report set the 2026 economic growth target at 4.5-5%. Nelson believed that Hong Kong will play an important role, with its capital market undergoing a strong liquidity-driven recovery. IPO activity has recovered and trading volumes have increased significantly, further consolidating its leadership as an international financial center. He predicted Hong Kong to surpass Switzerland before 2030 to become the world's leading cross-border wealth hub. Auto-translated by AI AASTOCKS Financial News |
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