Hong Kong lowers base rate by 25 basis points
Xinhua |
Updated: 2019-10-31 11:29
Share
Share - WeChat
HONG KONG - The Hong Kong Monetary Authority on Thursday lowered its base rate by 25 basis points to 2 percent with immediate effect following the US federal funds rate cut overnight.
The cut was announced after US Federal Reserve decided Wednesday to trim federal funds rate by 25 basis points, the third rate reduction this year.
According to Hong Kong's Linked Exchange Rate System, the base rate is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates, whichever is the higher.
- Xi's discourses on work related to women, children, families published in English
- Global scientists discuss the role of big data in advancing UN goals
- Ferry routes and schools closed as Typhoon Tapah nears Guangdong
- Xi to attend BRICS leaders virtual meeting
- China activates emergency flood control response in Guangdong, Guangxi
- Australian expert lauds China as a global leader in nanoscience
