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 Steps Up Monetary Support, But Not a Game Changer

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?

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<ul>
<li>By surprises on Monday, China cut the one-year Loan Prime Rate by 10 basis points to 3.35%,  while the five-year LPR was reduced by the same margin to 3.85%.</li>
<li>Afterwards PBOC cuts its Medium Term Facility (MLF) on Thursday to 2.30%, down 20 basis points from its previous MLF loan, its largest cut since April 2020.</li>
<li>The rate cuts this time carries more information than previous cuts as in the past, MLF changes usually precede rather than follow the LPR cuts.</li>
</ul>


By surprises on Monday, China cut the one-year Loan Prime Rate by 10 basis points to 3.35%,  while the five-year LPR was reduced by the same margin to 3.85%.
Afterwards PBOC cuts its Medium Term Facility (MLF) on Thursday to 2.30%, down 20 basis points from its previous MLF loan, its largest cut since April 2020.
The rate cuts this time carries more information than previous cuts as in the past, MLF changes usually precede rather than follow the LPR cuts.


PBOC's Surprise Rate Cuts on 22 July 2024