HK Inflation Relief Measures To Keep Econ Growing

Forex News: JPMorgan expects HK$11 billion package of inflation relief measures, together with tax rebate, cuts to provide cushion against rising inflationary pressures, unfolding slowdown in global demand, keep economy continuing to expand at above-trend pace of 4.8%; on inflation front, expects some further rise in coming months as CPI rent component adjusts with a lag, HKD falls vs CNY. But decline in food prices in China, global commodity prices more generally later this year, and slower growth in domestic demand, after last year's boom, which limit passthrough of higher costs to consumers, likely to keep inflation at acceptable limit.