Eddie Yue Wai-man speaks to the press on his first day as chief executive of the Hong Kong Monetary Authority on October 2, 2019. Photo: Xiaomei Chen
Hong Kong Monetary Authority (HKMA)
Hong Kong cuts interest rate after US Fed’s surprise move to bolster sagging economy as coronavirus outbreak spreads worldwide
- US Federal Reserve cut interest rate by 50 basis points, the first emergency reduction since the 2008 global financial crisis
- The Hong Kong Monetary Authority, which runs its monetary policy in lockstep with US policies, followed with a 50 basis point cut
Eddie Yue Wai-man speaks to the press on his first day as chief executive of the Hong Kong Monetary Authority on October 2, 2019. Photo: Xiaomei Chen