FOREX TradingCharts.com

Financial News: Hong Kong Central Bank Lifts Base Rate

Hong Kong Central Bank Lifts Base Rate

09/22/2022 - 03:13:00 (RTTNews)

(RTTNews) - The Hong Kong Monetary Authority raised its benchmark rate on Thursday after the rate hike of the U.S. Federal Reserve.

The Base Rate was adjusted upward to 3.50 percent with immediate effect according to a pre-set formula.

On Wednesday, the Federal Reserve had raised the target range for the federal funds rate by 75 basis points to 3 to 3.25 percent.

Hong Kong's Base Rate is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates, whichever is the higher.

Following the latest rate hike of the Federal Reserve, 50 basis points above the lower end of the prevailing target range for the US federal funds rate was 3.50 percent, while the average of the five-day moving averages of the overnight and one-month HIBORs was 1.82 percent.

As a result, the Base Rate was set at 3.50 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Latvia Industrial Production Falls For Second Month (09 hr(s), 40 min(s), 09 sec(s) ago)
(RTTNews) - Latvia's industrial production declined for the second successive month in August ...Full Story»

Eurozone PPI Inflation Hits New Record High (10 hr(s), 52 min(s), 09 sec(s) ago)
(RTTNews) - Eurozone producer price inflation accelerated more-than-expected to a fresh record hig ...Full Story»

Spain Unemployment Rises In September (11 hr(s), 46 min(s), 09 sec(s) ago)
(RTTNews) - Spain's unemployment registered a moderate increase in September, but the total nu ...Full Story»

Romania PPI Inflation Rises Further In August (12 hr(s), 55 min(s), 09 sec(s) ago)
(RTTNews) - Romania's producer price inflation accelerated for the third straight month in Aug ...Full Story»

Egypt Non-Private Sector Downturn Continues In September (13 hr(s), 41 min(s), 09 sec(s) ago)
(RTTNews) - Egypt's non-oil private sector activity contracted further in September amid infla ...Full Story»

RBA Delivers Smaller Than Expected Rate Hike (13 hr(s), 54 min(s), 09 sec(s) ago)
(RTTNews) - Australia's central bank raised its benchmark rate by a smaller-than-expected quar ...Full Story»

RBA Delivers Smaller Than Expected Rate Hike (13 hr(s), 58 min(s), 09 sec(s) ago)
(RTTNews) - Australia's central bank raised its benchmark rate by a smaller-than-expected quar ...Full Story»

Saudi Arabia Non-Oil Private Sector Maintains Strong Growth Momentum (14 hr(s), 17 min(s), 09 sec(s) ago)
(RTTNews) - Saudi Arabia's non-oil private sector logged a further strong expansion in Septemb ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Latvia Industrial Production Falls For Second Month

10/04/2022 - 06:57 AM (RTTNews)
(RTTNews) - Latvia's industrial production declined for the second successive month in August ...Full Story>>

Eurozone PPI Inflation Hits New Record High

10/04/2022 - 05:45 AM (RTTNews)
(RTTNews) - Eurozone producer price inflation accelerated more-than-expected to a fresh record hig ...Full Story>>

Spain Unemployment Rises In September

10/04/2022 - 04:51 AM (RTTNews)
(RTTNews) - Spain's unemployment registered a moderate increase in September, but the total nu ...Full Story>>

Romania PPI Inflation Rises Further In August

10/04/2022 - 03:42 AM (RTTNews)
(RTTNews) - Romania's producer price inflation accelerated for the third straight month in Aug ...Full Story>>

Egypt Non-Private Sector Downturn Continues In September

10/04/2022 - 02:56 AM (RTTNews)
(RTTNews) - Egypt's non-oil private sector activity contracted further in September amid infla ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.