Interest Rates

'Carry trade' the canary in the forex goldmine

The foreign exchange market remains on a roller coaster, propelled by sharp switchbacks in the so-called carry trade that has dominated the past year.

Sunday, 12 August, 2007, 12:00am

Heads Up

Global investors still rattled by US subprime market

Turbulence in share markets around the globe is likely to continue this week, which means investors will have to either hang on for a bumpy ride or bail out if they can't handle the nerve-wracking dips.

6 Aug 2007 - 12:00am

Lai See

A kid's letter warms the heart of StanChart's HK chief

Standard Chartered Bank's local chief Peter Sullivan may have received thousands of business letters over his 13 years at the lender, but this one kept him happy for more than a week.

'Dear Standard Chartered Bank,

3 Aug 2007 - 12:00am

Fears of Fed rate rise weigh on HK, Asian stocks

Hong Kong and regional stocks slipped yesterday, spooked by losses in US markets where investors worried the Federal Reserve would raise interest rates in the face of a sharp increase in 10-year Treasury bond yields.

9 Jun 2007 - 12:00am

Mixed showing in Canada defies US slump

While bad news continues to pile up for the slumping United States property market, Canada's housing sector showed a mixed performance during the first two months of the year, still displaying some life.

21 Mar 2007 - 12:00am

HK market joins Asian rebound

Hong Kong stocks rose yesterday, joining a rebound in other Asian markets from their biggest falls in more than a week.

They were driven higher mainly by bargain hunting amid waning fears over the sub-prime mortgage debt crisis in the United States.

16 Mar 2007 - 12:00am

BOC cuts interest rate after Fed holds steady

Most Hong Kong banks yesterday left interest rates untouched after the US Federal Reserve held off raising the benchmark rate.

The Bank of China (HK) was an exception, however. It cut its prime lending rate and savings deposit rate by 0.25 percentage point, taking the prime lending rate to 8 per cent from today, and bringing it in line with HSBC and Hang Seng Bank.

10 Aug 2006 - 12:00am

Sydney housing market heading back to tailspin

Analysts warn that another interest rate rise may lead to a rash of defaults from homeowners

Just as the Sydney property market's decline seemed to be over, the Reserve Bank of Australia has announced an interest rate rise, and with economists tipping another one before the year is out, the real estate scene might be heading back into the doldrums yet again.

9 Aug 2006 - 12:00am

Banks unlikely to follow US rate move

Low interbank charges weigh against raising borrowing costs

Hong Kong lenders say they are unlikely to raise interest rates even if the Federal Reserve takes the world's markets by surprise and nudges up United States rates by a further quarter percentage point later this week.

7 Aug 2006 - 12:00am

Composite rate reaches record amid liquidity crunch

Higher interest rate for time deposits in line with US move also leads to increase

The Hong Kong Monetary Authority's composite rate, which reflects the average funding cost of local banks, increased 0.29 percentage point last month to the highest level since it was launched in December 2003.

20 Jun 2006 - 12:00am

Alarm at red-hot property prices

Banks told to tighten mortgage lending in bid to cool market

With property markets in leading mainland cities continuing their red-hot growth last month, a top banking regulator has urged commercial banks to tighten mortgage lending for buyers of luxury properties.

26 May 2006 - 12:00am

Cash-rich banks keep prime rate unchanged

Developers welcome lenders' move despite increase in Fed funds target

Hong Kong banks left their interest rates unchanged yesterday after the United States Federal Reserve's 25 basis-point increase, saying they are flush with funds. The move was welcomed by the property market.

12 May 2006 - 12:00am

Banks likely to match increase in US Fed rate

Hong Kong banks are expected to match an expected interest rate rise of 0.25 percentage point by the United States Federal Reserve this week, even though the economy is not showing a need for such an increase, bankers say.

8 May 2006 - 12:00am

Banks cut deeper in intensifying mortgage rate war

More banks are lowering their mortgage rates as competition for business intensifies.

4 May 2006 - 12:00am

Tougher curbs on mainland economy forecast

Limited impact of rate rise will prompt more tightening measures, say experts

The People's Bank of China may have to boost interest rates again by the year's end and impose further administrative restrictions to curb lending growth and capital spending in order to cool the country's breakneck expansion, analysts and bankers said yesterday.

29 Apr 2006 - 12:00am