Diners at the Lin Heung Tea House on Wellington Street in Hong Kong’s Central business district on March 12, 2020, amid the coronavirus epidemic. Photo: Nora Tam Diners at the Lin Heung Tea House on Wellington Street in Hong Kong’s Central business district on March 12, 2020, amid the coronavirus epidemic. Photo: Nora Tam
Diners at the Lin Heung Tea House on Wellington Street in Hong Kong’s Central business district on March 12, 2020, amid the coronavirus epidemic. Photo: Nora Tam

Hong Kong slashes interest rate after US Fed’s second emergency cut, as Covid-19 pandemic gathers pace and roils global economies

  • US Federal Reserve lowered interest rate to near zero on Sunday and resumed its quantitative buying programme, days ahead of its scheduled meeting, to bolster the US economy against the impact of the spreading coronavirus outbreak
  • Hong Kong Monetary Authority (HKMA) lowered its base rate to 0.86 per cent, smaller than the US Fed’s 100-point cut

Topic |   Hong Kong Monetary Authority (HKMA)
Diners at the Lin Heung Tea House on Wellington Street in Hong Kong’s Central business district on March 12, 2020, amid the coronavirus epidemic. Photo: Nora Tam Diners at the Lin Heung Tea House on Wellington Street in Hong Kong’s Central business district on March 12, 2020, amid the coronavirus epidemic. Photo: Nora Tam
Diners at the Lin Heung Tea House on Wellington Street in Hong Kong’s Central business district on March 12, 2020, amid the coronavirus epidemic. Photo: Nora Tam
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