HK central bank cuts interest rate

By Reuters

Sep 20, 2024 12:15 am

HONG KONG — The Hong Kong Monetary Authority (HKMA) on Thursday cut its base rate charged via the overnight discount window by 50 basis points to 5.25 percent, tracking a move by the US Federal Reserve.

Hong Kong's monetary policy moves in lockstep 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.

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