Hong Kong central bank cuts interest rate, tracking Fed move

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HONG KONG : The Hong Kong Monetary Authority (HKMA) on Thursday cut its base interest rate charged via the overnight discount window by 25 basis points to 4.75 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: Photo: File Kong Mediacorp Experience Authority Walks Monetary Entrance Hong Attendant

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 07:35:45 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 144 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: 24542384

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