Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Alex Ng is the founder and head of research of the economic and investment research house Fortress Hill Advisors. Prior to founding Fortress Hill Advisors, he worked as an economic research analyst across government, academic, and financial institutes including the Hong Kong Financial Secretary’s Office (Office of the Government Economist), Economic Research Center of the Institute of Asia-Pacific Studies at CUHK, and State Street Global Markets. Alex holds a Master of Arts in Economics degree from Columbia University in the City of New York and a Bachelor of Arts in Economics and Mathematics from Wesleyan University (CT, USA).

Our firm's expertise lies in macroeconomics, global macro,  global thematic research, company and equity research, multi-asset strategy, event driven, and ESG.

We also do proprietary trading on the firm's capital, to try to vindicate our investment thesis. Our flagship publication, Heard from Fortress Hill (HFFH) provides our weekly market observations and is freely available on our website: https://fortresshill-advisors.com/hffh/

Founder & Head of Research

China's Serial Rate Cuts: What are Them and are They Effective in Reviving the Falling Economy

Outlook Overview: How Far Are the Rate Cuts?

PBoC Examines Overhaul of Monetary Policy Framework, but Quantitative Easing Appears Unlikely

PBOC's Surprise Rate Cuts on 22 July 2024

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Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

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Macroeconomics

<ul>
<li>China has surprised and cut the 7 day reverse repo rate by 20bps to 1.5%, with a 50bps cuts in the RRR rate. </li>
<li>Combined with other measures this is a step-up in support and could help GDP on the margin, but the measures are not game changers as monetary policy is currently ineffective. </li>
<li>While further fiscal easing will likely arrive in the next few weeks, we still maintain our forecast of 4.0% GDP growth for 2025.</li>
</ul>


China has surprised and cut the 7 day reverse repo rate by 20bps to 1.5%, with a 50bps cuts in the RRR rate. 
Combined with other measures this is a step-up in support and could help GDP on the margin, but the measures are not game changers as monetary policy is currently ineffective. 
While further fiscal easing will likely arrive in the next few weeks, we still maintain our forecast of 4.0% GDP growth for 2025.


China Steps Up Monetary Support, But Not a Game Changer