Analysts: upcoming rate hike to hit Hong Kong less hard than in 2022

Analysts expect the upcoming rate hike will not deal as heavy a blow to Hong Kong's property market as the previous round of increases in 2022 and 2023. Although the US Federal Reserve raised its benchmark rate earlier this month, Hong Kong's major banks have so far kept rates unchanged. If the Fed tightens further later this year, banks are expected to follow with rate hikes.