HKMA Maintains Base Rate at 4.25 Percent Following US Federal Reserve Decision
The Hong Kong Monetary Authority (HKMA) announced on Thursday that it would maintain its base rate at 4.25 per cent, occurring shortly after the US Federal Reserve also opted to keep its benchmark rate unchanged.
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According to the South China Morning Post, the Hong Kong Monetary Authority (HKMA) declared on Thursday that it would keep its base rate at 4.25 per cent, which came hours after the US Federal Reserve also made the decision to keep its benchmark rate steady.
The city's de facto central bank frequently aligns its actions with those of the US Fed because the Hong Kong currency is pegged to the US dollar. In September, the HKMA had followed the Fed by increasing its key interest rate by a quarter of a percentage point, marking the first such increase since 2023.
On Wednesday local time, the US Federal Open Market Committee (FOMC), which was chaired by Kevin Warsh, voted to maintain its target range between 3.75 per cent and 4 per cent, a move that the market had widely anticipated.
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