The Hong Kong Monetary Authority has lowered the benchmark interest rate by 50 basis points to 5.25%.
The Hong Kong Monetary Authority announced that it will lower the base rate by 50 basis points to 5.25%, down from the previous 5.75%.
On September 19, the Hong Kong Monetary Authority announced that it would cut the base rate by 50 basis points to 5.25%, down from 5.75%. Overnight, the Federal Reserve also announced a 50 basis point rate cut. Under the linked exchange rate system in Hong Kong, the Hong Kong Monetary Authority adjusted the base rate to 5.25% in response to the US rate cut.
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