Hong Kong’s base interest rate drops to 5 per cent after Fed’s quarter-point cut

Quick Summary:

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

Federal Reserve’s Chairman Jerome Powell spoke during a news conference at the Federal Reserve in Washington DC on Sept.18, 2024.“This further recalibration of our policy stance will help maintain the strength of the economy and the labour market and will continue to enable further progress on inflation as we move toward a more neutral stance on time,” Fed chairman Jerome Powell said.

The rate-cut cycle is expected to last until next year.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong Kong

Topics: Base Cent Federal Expected Interest Rate Year Time Help Kong’s Hong

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 07:31:14 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 232 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 34 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 23465750

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