The Hong Kong government is set to issue the city’s first inflation-linked bonds, designed for local retail investors, at a time of heightened worries about a property bubble and rising costs of living.
Strong economic growth of 6.8 per cent in 2010, announced in the financial secretary’s annual budget speech on Wednesday, has come with rising inflation, which last year stood at 2.4 per cent but is forecast to reach 4.5 per cent in 2011.
“The two main challenges confronting us in the year ahead are undoubtedly inflation and the risk of a property bubble,” said John Tsang, the financial secretary. He said that quantitative easing in the US had led to “a greater inflation risk”.
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