HK official: Fed’s rate hike, Eurozone’s QE to create global downturn

John Tsang Chun-Wah, Hong Kong Financial Secretary told the press that “the divergence of monetary policies between the U.S. rate rise and the Eurozone’s quantitative easing will have negative influence on global capital flows and financial markets, which will create a vicious circle of downturn of global economy.”
He said hiking interest rates too soon could cause capital flows to the United States from emerging markets.

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