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HKMA Lowers Base Rate to 4.25%
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The Hong Kong Monetary Authority (HKMA) announced a reduction in the base rate by 25 bps, from 4.5% to 4.25%, effective immediately. This adjustment followed the Federal Reserve's rate cut on the same day, aiming to maintain the stability of the HKD exchange rate and trim local financing costs. Overnight, the Fed cut interest rates by 25 bps and announced the cessation of quantitative tightening (QT) starting in December. AASTOCKS Financial News Website: www.aastocks.com |
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