Hong Kong central bank keeps key rate steady, tracking Fed move
HONG KONG: The Hong Kong Monetary Authority (HKMA) left its deplorable rate by the in a single day good aquire window unchanged at 5.75 per cent on Thursday (Jun 13), monitoring a switch by the US Federal Reserve to leave rates unchanged.
The Federal Reserve held curiosity rates trendy on Wednesday and pushed out the delivery of rate cuts to in all likelihood as slack as December as policymakers sketched out their peek of a US economy that stays virtually unchanged across its vital dimensions for future years.
Commercial
“With most contemporary economic records exhibiting blended signs and inflation final high, when the Fed will delivery cutting curiosity rates is restful uncertain,” HKMA talked about in a observation, adding the high curiosity rate atmosphere also can final for some time.
HKMA talked about the financial and financial markets of Hong Kong proceed to operate in a cozy and shapely contrivance and the Hong Kong greenback replace rate stays accurate.
“The Hong Kong greenback interbank rates might possibly possibly live high for some time,” HKMA talked about, urging the final public to carefully assess and organize the relevant risks when making property aquire, mortgage or a form of borrowing selections.
Hong Kong’s monetary policy moves in lock-step with the United States because town’s currency is pegged to the greenback in a tight differ of seven.75-7.85 per greenback.
Source: Reuters
