Hong Kong Monetary Authority raises interest rates, tracking Fed move

Source: HKMA

HONG KONG: The Hong Kong Monetary Authority on Thursday raised its base interest rate charged via the overnight discount window by 25 basis points to 4.25%, tracking a hike by the U.S. Federal Reserve.

Hong Kong's monetary policy moves in lock-step with the United States as the city's currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar. - Reuters