Hong Kong Central Bank Cuts Interest Rate after Fed Move, Banks Follow ​

HONG KONG - HONG KONG. The Hong Kong Monetary Authority (HKMA) on Friday cut by 25 basis points its base rate charged via the overnight discount window, to 5.0%, tracking a move by the U.S. Federal Reserve.

Major Hong Kong banks followed with HSBC cutting its Hong Kong dollar best lending rate by 25 basis points and Bank of China (Hong Kong) also cutting its Hong Kong dollar prime rate by the same magnitude.

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