HONG KONG (Reuters) -The Hong Kong Financial Authority (HKMA) saved its base price charged by the in a single day low cost window unchanged at 5.75% on Thursday, monitoring a choice by the U.S. Federal Reserve to maintain charges regular.
The U.S. Federal Reserve held rates of interest regular on Wednesday and signalled it was nonetheless leaning in the direction of eventual reductions in borrowing prices, however flagged latest disappointing inflation readings that might delay the speed cuts.
“The excessive rate of interest atmosphere could final for a while,” HKMA mentioned in a press release, including the Fed has not but gained sufficient confidence in regards to the U.S. inflation trajectory to start out reducing rates of interest.
Hong Kong’s monetary and financial markets proceed to function in a clean and orderly method, the Hong Kong greenback change price stays steady whereas Hong Kong greenback interbank charges may stay excessive for a while, HKMA mentioned.
Hong Kong’s financial coverage strikes in lock-step with the US as the town’s foreign money is pegged to the greenback in a good vary of seven.75-7.85 per greenback.
HSBC Holdings (NYSE:) mentioned it saved its greatest lending price in Hong Kong unchanged at 5.875%.
