Home News China Focus

Hong Kong raises benchmark interest rate following Fed move

Bloomberg7/28/2022 09:34 AM GMT+08  • 2 min read
Hong Kong raises benchmark interest rate following Fed move
Photo: Bloomberg
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The Hong Kong Monetary Authority increased its base rate by 75 basis points to 2.75% on Thursday after the Federal Reserve raised interest rates.

The HKMA moves in lockstep with the Fed, given the Hong Kong dollar’s peg to the greenback.

Now attention will turn to Hong Kong banks -- including HSBC Holdings Plc and Standard Chartered Plc -- which have so far this year maintained their best lending rates following the monetary authority’s hikes.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.