HONG KONG: The Hong Kong Monetary Authority (HKMA) lowered its base rate charged through the overnight discount window by 50 basis points to 1.5% yesterday, hours after the US Federal Reserve delivered a rate cut of the same margin.
The monetary measures came as policymakers worldwide stepped up efforts to counter the widening economic fallout of the coronavirus epidemic, which originated in China late last year and has claimed the lives of over 3,000.
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