The Business Times

Hong Kong central bank raises interest rate after Federal Reserve hike

    • The Hong Kong Monetary Authority on Thursday raised its base rate charged through the overnight discount window by 50 basis points to 4.75 per cent.
    • The Hong Kong Monetary Authority on Thursday raised its base rate charged through the overnight discount window by 50 basis points to 4.75 per cent. PHOTO: REUTERS
    Published Thu, Dec 15, 2022 · 08:14 AM

    THE Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 50 basis points to 4.75 per cent, hours after the US Federal Reserve delivered a rate hike of the same margin.

    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

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