Bubbles a bigger threat than inflation: HKMA’s Chan
Norman Chan, the chief executive of the Hong Kong Monetary Authority, has said it is more important to address the harm that might be caused by asset-price bubbles than to attempt to quash inflation.
Speaking in Hong Kong on Monday, Chan said: "Based on my experience in Asia in the past two decades, I believe asset-price bubbles, rather than inflation, pose the greatest risk to financial stability."
Chan acknowledged the difficulties in predicting asset-price bubbles, but said this was no excuse
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