HONG KONG, June 15 (Reuters) – The Hong Kong Financial Authority (HKMA) on Thursday left its base fee charged via the in a single day low cost window unchanged at 5.50%, monitoring the transfer of the U.S. Federal Reserve.
The U.S. Federal Reserve paused rate of interest hikes as was extensively anticipated however signalled that it may elevate charges by one other half a share level by year-end.
Hong Kong’s financial coverage strikes in lock-step with that of the U.S. as the town’s foreign money is pegged to the greenback in a decent vary of seven.75-7.85 per greenback.
“Because the excessive rate of interest atmosphere within the U.S. could final slightly longer, the excessive rate of interest atmosphere in Hong Kong can also proceed slightly longer,” HKMA Chief Govt Eddie Yue informed a media briefing.
The HKMA will carefully monitor market developments and keep financial and monetary stability, Yue added. (Reporting by Donny Kwok; Modifying by Muralikumar Anantharaman)
