Published:
Loans hike by 11.5% in 2014 first quarter
But don’t expect strong expansion.
According to UBS, HKD loans expanded 11.5%y/y in 1Q14.
Broad money picks up in tandem with credit growth.
Here’s more from UBS:
Money and credit are pro-cyclical indicators. Normally a large expansion in base money will lead to an expansion in broader liquidity aggregates and help boost the economy.
A moderate cyclical recovery should translate into some pick up in credit demand in 2014; but the subdued housing market and the property cooling measures will likely preclude any strong credit expansion.
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