A man walked past a closed retail shop in Causeway Bay on 27 June 2020. Photo: Winson Wong
A man walked past a closed retail shop in Causeway Bay on 27 June 2020. Photo: Winson Wong
HKMA

Hong Kong’s base rate rises by the most in 22 years, ushering in era of faster, bigger increases in borrowing costs even as economy slumps

  • The city’s base rate rose to 1.25 per cent after the 50-basis point increase, en route to the 4 per cent expected by the end of 2023
  • Hang Seng Index fell 0.4 per cent after rising by as much as 2 per cent, taking its cue from the 3 per cent overnight gain in the S&P500

A man walked past a closed retail shop in Causeway Bay on 27 June 2020. Photo: Winson Wong
A man walked past a closed retail shop in Causeway Bay on 27 June 2020. Photo: Winson Wong
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