Hong Kong kept the city’s key interest rate unchanged for the sixth consecutive time in lockstep with the Federal Reserve’s overnight decision, as stubborn inflation in the United States pushed back expectations of a rate cut to September.
The Hong Kong Monetary Authority (HKMA) said on Thursday it would leave its base rate unchanged at 5.75 per cent. Hours earlier, the Fed kept its target rate in a range between 5.25 per cent and 5.5 per cent, citing several “hotter-than-expected” price and growth reports.
Source: Trade Finance
