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Hong Kong central bank raises interest rate after Fed hike

Hong Kong central bank raises interest rate after Fed hike

Reuters · 07/27/2022 19:01
Hong Kong central bank raises interest rate after Fed hike

- The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 75 basis points to 2.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin.

Hong Kong's monetary policy moves in lock-step with the United States' as the city's currency HKD=D3 is pegged to the greenback in a tight range of 7.75-7.85 per dollar.


(Reporting by Donny Kwok and Alun John; Editing by Jacqueline Wong)

((donny.kwok@thomsonreuters.com; +852 3462 7745; Reuters Messaging: donny.kwok.reuters.com@reuters.))