Banking rate

PUBLISHED : Friday, 18 February, 1994, 12:00am
UPDATED : Friday, 18 February, 1994, 12:00am

INTEREST rates in Hong Kong will not rise today, according to a straw poll of 24 leading local brokerages yesterday.

Business Post asked analysts to forecast whether or not the Hong Kong Association of Banks weekly meeting today, after the stock market close, will result in a rise in local interest rates.

Only five believed the association would increase local rates.

The rest said they would be very surprised if the association raised rates, given that the prime was already half a point ahead of that in the United States, and that a proven case of rising inflation in the US had yet to be reflected in current economicdata.

Yesterday's poll was carried out during the day yesterday, after the market was closed, but ahead of the US inflation and trade figures.