Shoppers and pedestrians in Causeway Bay on 1 August 2022. Photo: Nora Tam.
Shoppers and pedestrians in Causeway Bay on 1 August 2022. Photo: Nora Tam.

Hong Kong raises base rate by 75 basis points to 14-year high as Fed signals more pain and pledges to ‘keep at it’ to contain inflation

  • The Hong Kong Monetary Authority raised its base rate to 3.5 per cent effective immediately, the highest level since March 2008
  • All eyes are on Hong Kong’s other commercial lenders, after HSBC decided to lift its prime rate by 12.5 basis points, with effect from Friday

Shoppers and pedestrians in Causeway Bay on 1 August 2022. Photo: Nora Tam.
Shoppers and pedestrians in Causeway Bay on 1 August 2022. Photo: Nora Tam.
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