A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning 8 to 8:30 a.m. on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at firstname.lastname@example.org, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
The OECD said the global economy will expand just 2.2% in 2023, down from a previous forecast of 2.8%. The new projection for the year means output will be $2.8 trillion less than officials had predicted at the end of 2021. The Paris-based organisation slashed its GDP forecasts for all but one of the G-20, with only Indonesia featuring a moderately higher outlook. Europe is expected to be the hardest hit with the OECD now expecting Germany, the region’s biggest economy, to contract 0.7% next year. The US economy is projected to grow just 0.5% next year. In China, growth will slow to 3.2% this year amid repeated Covid-19 shutdowns and a crisis in the property market, “but policy support could help growth recover in 2023,” the OECD said.
27/09/2022 - 8:11am Business and Market Discussion
Will Denyer, US Economist at Gavekal, suggests that the US Fed will stop tightening its monetary policies when growth begins to come down to a point where inflationary pressures can be eased.
Andrew Sullivan, Managing Director at Outset Global, reports that Hong Kong's mortgage rates are fluctuating and can cause many potential issues.
27/09/2022 - 8:25am View from Japan
The Federal Reserve has raised US interest rates by 75bps and signalled that there are more rate hikes to come. It’s the third consecutive 0.75 percentage point move and takes the federal funds rate up to a range of 3%-3.25%, the highest since early 2008. In the so-called “dot plot” of FOMC members' expectations of where interest rates will be in the future, policymakers anticipate they will keep hiking until the funds rate reaches 4.4% by the end of this year and hits a terminal rate of 4.6% in 2023. They will then remain at that level until 2024.
22/09/2022 - 8:10am Business and Market Discussion
Wealth Management Strategist, Enzio Von Pfeil, fears that Hong Kong will be facing a series of high mortgage rates and potential worries about unemployment.
Nick Marro, Lead for Global Trade at The Economist Intelligence Unit, thinks that the US federal reserve does not have all the necessary tools to solve inflation.
22/09/2022 - 8:25am View from Taiwan