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HKMA warns of risk to economy from soaring property prices

Posted on 20 December 2012

The Hong Kong Monetary Authority has sounded another warning about the risk of runaway home prices to the economy, which also faces a poor short-term outlook because of weak foreign demand.
In its latest quarterly report on the health of the city’s economy and the banking sector, the authority said the city could be thrown back into recession if the European sovereign debt crisis escalated and if the United States failed to moderate tax increase and government spending cuts due to take effect next month………………………………………..Full Article: Source


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