China's banks will play a larger role in setting their own interest rates, top bankers said yesterday on the sidelines of the 18th party congress.
The move is likely to intensify competition and, possibly squeeze bank profit margins.Friday, 9 November, 2012, 4:10am
South Korea's central bank yesterday cut its key interest rate by 25 basis points to 2.75 per cent in response to a stronger-than-than-expected slowing of economic growth.
The second cut in three months followed downward revisions of the country's growth forecast for this year and data showing a significant slump in exports and manufacturing activity.12 Oct 2012 - 3:00am
The Bank of Korea (BOK) said risks to growth were rising and that its policy would focus on supporting the economy, according to a report ahead of next week's decision on rates.3 Oct 2012 - 2:27am
Beijing took a small step towards liberalising its interest-rate regime in June, but the central bank is quietly signalling that further concrete steps will not be taken any time soon.21 Sep 2012 - 2:46am
Just six months ago, money market traders expected the US Federal Reserve to raise interest rates by the end of next year, but now they see them at record lows for about three more years as the economic outlook worsens.11 Sep 2012 - 2:30am
New Zealand’s central bank is seen as a sure bet to keep its key rate at a record-low level for a 12th straight meeting this week as low inflation, the high local dollar, and a challenging global outlook need no immediate policy action.11 Sep 2012 - 9:36am
Fund managers and listed companies have expressed support for a planned Hong Kong review of the local interbank rate setting to ascertain whether any manipulation is occurring.21 Aug 2012 - 3:56am
The People's Bank of China (PBoC) may not be too keen to cut interest rates further to combat slowing growth because the impact on demand is likely to be limited.16 Aug 2012 - 3:54am
The London interbank offered rate, or Libor, touches many aspects of people's lives, from their investments to home mortgages.
But few outside financial institutions actually know what it is.5 Jul 2012 - 12:00am
Global residential property prices, including luxury home prices in Hong Kong, are likely to fall this year, international property consultancy Knight Frank said.16 Mar 2012 - 12:00am
The prospect of US interest rates being kept near zero until late-2014 may keep a lid on any rises in Hong Kong home loan rates, but will not be a magic wand for the sluggish local property market, say analysts.1 Feb 2012 - 12:00am
With HSBC planning to raise mortgage interest rates for the fifth time this year, charges for home loans appear to be returning to their historic levels, analysts say.
Other banks may follow HSBC's lead, said Sharmaine Lau Yuen-yuen, chief economist at mReferral Mortgage Brokerage Services.17 Sep 2011 - 12:00am
It is easy to get a credit card in Hong Kong. Banks make a lot of money from this business and, to attract new customers, they offer promotions such as cash coupons and free subscriptions on pay-television channels.
People who sign up thus enter a world of potentially steep fees and interest expenses.1 Aug 2011 - 12:00am
HSBC will raise its mortgage interest rate based on the Hibor, or Hong Kong interbank offered rate, today - meaning that, for the first time, Hibor-based mortgages may cost more than mortgages based on the prime lending rate.7 Jul 2011 - 12:00am
The Hong Kong Monetary Authority tightened home lending for properties priced above HK$6 million and, for the first time, imposed extra restrictions on mortgages to non-resident borrowers.11 Jun 2011 - 12:00am