Hong Kong central bank cuts interest rate after Fed move

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HONG KONG : The Hong Kong Monetary Authority (HKMA) on Friday cut its base rate charged via the overnight discount window by 25 basis points to 5.0 per cent, tracking a move by the U.S.Federal Reserve.

FILE PHOTO: An attendant walks outside the entrance to Hong Kong Monetary Authority in Hong Kong, China November 10, 2015.

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.

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Category: EconomyBusiness

Markets: SingaporeChinaHong KongUnited States

Topics: Monetary Hong Kong Attendant Walks Mediacorp File Entrance Authority Photo: Experience

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 07:37:01 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 142 words

Reading Time: 1 minutes read

Sentences: 6 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23466056

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