Shoppers in Hong Kong’s Causeway Bay on July 2, 2019. Photo: Xiaomei Chen

Hong Kong follows US Fed in cutting interest rate for the first time since 2008 as trade war weighs down on world economy

  • Hong Kong Monetary Authority has cut the base lending rate by 25 basis points to 2.5 per cent, following a widely expected move of the same amount by the US Federal Reserve
  • Commercial banks are expected to hold their rates steady, with HSBC the first to announce that it is keeping its best lending rate unchanged. The bank cut its rate for US dollar savings by 10 basis points
Topic |   Hong Kong Monetary Authority (HKMA)

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Shoppers in Hong Kong’s Causeway Bay on July 2, 2019. Photo: Xiaomei Chen
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