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HKMA chief says expects overnight interbank rate to rise at much faster pace

HKMA chief says expects overnight interbank rate to rise at much faster pace

Reuters · 07/27/2022 21:12
HKMA chief says expects overnight interbank rate to rise at much faster pace

- Hong Kong Monetary Authority (HKMA) chief Eddie Yue said on Thursday he expects the city's overnight and one-month interbank rate to continue to rise, but at a much faster pace.

Yue was speaking after the city's de facto central bank 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.


(Reporting By Donny Kwok and Anne Marie Roantree; Editing by Christian Schmollinger)

((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters Messaging: annemarie.roantree.thomsonreuters.com@reuters.))