Hong Kong's Monetary Authority maintains base rate at 5.75% in line with the US Fed's decision due to US inflation concerns.
Hong Kong's Monetary Authority holds base rate at 5.75% in line with the US Federal Reserve's decision, as US inflation concerns persist. Both the HKMA and the Fed have kept rates unchanged for six consecutive times. This follows the Fed's target rate remaining in a range between 5.25% and 5.5%, while Fed Chairman Jerome Powell expressed concerns about inflation progressing towards the 2% objective.
May 01, 2024
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