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Hong Kong Monetary Authority Raises Base Rate by 25bps to 4.25%
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The Hong Kong Monetary Authority (HKMA) has raised its base rate by 25 basis points to 4.25%, following a similar move by the U.S. Federal Reserve. This action is part of the HKMA's policy to maintain the Hong Kong dollar's peg to the U.S. dollar, which requires it to mirror the Fed's monetary policy adjustments. The rate hike reflects the HKMA's response to the Fed's latest increase, aimed at managing inflation and economic conditions. The decision was announced by the HKMA, which operates as the city's de facto central bank, and is effective immediately. The move aligns with the linked exchange rate system between the Hong Kong dollar and the U.S. dollar, ensuring monetary stability in Hong Kong.
Source report
The Hong Kong Monetary Authority (HKMA) has raised its base rate by 25 basis points to 4.25%, following the Federal Reserve's latest rate-hike decision.
Source
金十数据Regional
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Hong Kong Monetary Authority raises base rate by 25 basis points to 4.25% following Fed