Hong Kong keeps base rate unchanged, as US Fed paves way for a cut ‘as soon as’ September

Quick Summary:

The Fed’s decision was widely expected, as 95.9 per cent of traders expected the US central bank to leave rates unchanged after its policy meeting, according to data compiled by CME Group.

The HKMA and the Fed have kept their key lending rate at the current level since July 2023, when they raised rates by 25 basis points.

The prime rate at BOCHK, HSBC and its subsidiary Hang Seng Bank is set at 5.875 per cent.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongChina

Topics: Meeting July Policy Hong September Rates Cent Bank Kong Federal Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 07:00:39 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 742 words

Reading Time: 5 minutes read

Sentences: 22 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21878011

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