Crisis traverses financial system: HKMA's Yam

The boundaries of the global credit crunch go beyond the markets, with the falls in house prices sparking significant slumps in aggregate demand, said Joseph Yam, the chief executive of the Hong Kong Monetary Authority.

"I would stress that the crisis goes beyond the financial system," Yam said in an exclusive interview with Central Banking journal, published on Monday. "The sharp contraction in housing is having an even more direct negative impact on household consumption and combined with the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.