The Hong Kong Monetary Authority (HKMA) on Thursday left its base rate charged through the overnight discount window unchanged at 5.75%, tracking a move by the U.S. Federal Reserve to keep rates steady.
on Wednesday as policymakers paused its aggressive tightening of monetary policy to consider if conditions were restrictive enough to tame inflation.
HKMA said it is premature to conclude whether the U.S. rate hike cycle has been completed, and the high interest-rate environment is likely to last for some time. "The Hong Kong dollar exchange rate remains stable, and the Hong Kong dollar interbank rates might remain high for some time," HKMA said in a statement, adding that local financial and monetary markets continue to operate in a smooth and orderly manner.
The public should carefully assess and manage the relevant risks when making property purchase, mortgage or other borrowing decisions, HKMA said. Hong Kong's monetary policy moves in lock-step 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.The Indian rupee is expected to open marginally higher on Thursday on the back of a fall in U.S. Treasury yields after a slightly dovish stance from the Federal Reserve.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong central bank leaves interest rate unchanged, tracking Fed moveHong Kong central bank leaves interest rate unchanged, tracking Fed move
Read more »
Fed buzz: words to watch for as the Fed sets ratesFed buzz: words to watch for as the Fed sets rates
Read more »
Fed meeting live updates: Fed expected to leave rates the same for a second consecutive timeFed funds futures pricing suggests a 99% likelihood that the central bank will hold steady on policy, keeping its target rate range at 5.25% to 5.5%.
Read more »
Fed meeting live updates: Fed expected to leave rates the same for a second consecutive timeFed funds futures pricing suggests a 99% likelihood that the central bank will hold steady on policy, keeping its target rate range at 5.25% to 5.5%.
Read more »
Tenure-track Faculty Positions in Particle Physics and Cosmology - Hong Kong (HK) job with Department of Physics, The Hong Kong University of Science & Technology (HKUST)The Department of Physics invites applications for several tenure-track faculty positions at the Assistant Professor level in experimental and theoretical physics. The target areas of the search are Theoretical High Energy Physics and Cosmology, Experimental Particle Physics and Observational Cosmology.
Read more »