Hong Kong central bank cuts interest rate, tracking Fed move
Add BT as a preferred source
[HONG KONG] Hong Kong’s de-facto central bank on Thursday lowered its base interest rate by 25 basis points to 4.25 per cent, tracking a cut by the US Federal Reserve.
It was the second easing by the Hong Kong Monetary Authority (HKMA) this year since a 25 basis point cut in September. The rate is charged via the overnight discount window.
The Federal Reserve cut interest rates by a quarter of a percentage point to lower the policy rate to a range of 3.75 per cent to 4.00 per cent overnight.
Hong Kong’s monetary policy moves in lock-step with the United States as the city’s currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Is it time to scrap COE categories for cars?
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?
