Hong Kong Central Bank HKMA Decreases Interest Rate by 0.25% from 5% to 4.75%, Following US Fed Interest Rate Decreased by 0.25% to 4.25% – 4.5% Range on 18th December 2024
19th December 2024 | Hong Kong
Hong Kong central bank Hong Kong Monetary Authority (HKMA) has decreased Hong Kong key interest rate by 0.25% from 5% to 4.75%, following the United States Federal Reserve announcement to reduce interest rate by 0.25% to 4.25% to 4.5% range on 18th December 2024. HKMA (19/12/24): “The Hong Kong Monetary Authority (HKMA) announced today (19 December) that the Base Rate has been set at 4.75% with immediate effect according to a pre-set formula. The Base Rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed. The Base Rate is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates (HIBORs), whichever is the higher. Following the 25-basis point downward adjustment in the target range for the US federal funds rate on 18 December (US time), 50 basis points above the lower end of the prevailing target range for the US federal funds rate is 4.75%, while the average of the five-day moving averages of the overnight and one-month HIBORs is 4.20%. The Base Rate is therefore set at 4.75% according to the pre-set formula.”
” Hong Kong Central Bank HKMA Decreases Interest Rate by 0.5% from 5.75% to 5.25%, Following US Fed Interest Rate Decreased by 0.25% to 4.5% – 4.75% Range on 7th November 2024 “
HKMA – The Hong Kong Monetary Authority (HKMA) announced today (19 December) that the Base Rate has been set at 4.75% with immediate effect according to a pre-set formula. The Base Rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed. The Base Rate is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates (HIBORs), whichever is the higher. Following the 25-basis point downward adjustment in the target range for the US federal funds rate on 18 December (US time), 50 basis points above the lower end of the prevailing target range for the US federal funds rate is 4.75%, while the average of the five-day moving averages of the overnight and one-month HIBORs is 4.20%. The Base Rate is therefore set at 4.75% according to the pre-set formula.
Hong Kong Central Bank HKMA Decreases Interest Rate by 0.25% from 5% to 4.75%, Following US Fed Interest Rate Decreased by 0.25% to 4.25% – 4.5% Range on 18th December 2024
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