Hong Kong’s Monetary Authority Keeps Rates in Lockstep with Fed at 16 Year High 5.75%

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, left its base rate charged through the overnight discount window unchanged at 5.75%, tracking action by the U.S. Federal Reserve. The latest move kept borrowing costs in the city to the highest level since January 2008. Hong Kong raises rates in line with the Fed due to the Hong Kong Dollar’s peg to the US Dollar. Immediately after the announcement the Hong Kong’s one-month interbank offered rate (Hibor) soared … Continue reading “Hong Kong’s Monetary Authority Keeps Rates in Lockstep with Fed at 16 Year High 5.75%”

Hong Kong’s Monetary Authority Raises Interest Rates in Lockstep with Fed to 16 Year High

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, raised its base interest rate charged through its overnight discount window unchanged at 5.75 per cent, tracking action by the U.S. Federal Reserve. Last meeting it raised its benchmark interest rate for a tenth time, following the US Federal Reserve. The latest move kept borrowing costs in the city to the highest level since January 2008. Hong Kong raises rates in line with the Fed due to the Hong … Continue reading “Hong Kong’s Monetary Authority Raises Interest Rates in Lockstep with Fed to 16 Year High”

Hong Kong’s One-Week Hibor Interest Rate Rises to Highest in 16 Years

Hong Kong interbank interest rates rose across all tenors on Friday. The overnight interbank offered rate rising the most, to the highest in four weeks. Overnight Hong Kong interbank offered rates (Hibor) jumped 63.5 basis points (bps) to 4.88%. One-week Hibor rose 62 bps to 4.92% its highest in nearly 16 years. The day before the Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, left its base interest rate charged through its overnight discount window unchanged at 5.50 … Continue reading “Hong Kong’s One-Week Hibor Interest Rate Rises to Highest in 16 Years”

Hong Kong’s Monetary Authority Kept Interest Rates in Lockstep With Fed, Hibor Continues to Rise

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, left its base interest rate charged through its overnight discount window unchanged at 5.50 per cent, tracking action by the U.S. Federal Reserve. Last meeting it raised its benchmark interest rate for a tenth time, following the US Federal Reserve. The latest move kept borrowing costs in the city to the highest level since January 2008. Hong Kong interbank offered rate (Hibor) continues to rise. Hong Kong raises rates … Continue reading “Hong Kong’s Monetary Authority Kept Interest Rates in Lockstep With Fed, Hibor Continues to Rise”

Hong Kong’s Monetary Authority Raised Interest Rates 25bps Despite Banking Liquidity at 2008 Lows

The Hong Kong Monetary Authority (HKMA), Hong Kong’s de-facto central bank, raised its benchmark interest rate for a tenth time this year, following the US Federal Reserve, by 25 basis points to 5.55% on Thursday. The latest move brought borrowing costs in the city to the highest level since January 2008. Hong Kong raises rates in line with the Fed due to the Hong Kong Dollar’s peg to the US Dollar. The weakness in the HKD forced the bank to … Continue reading “Hong Kong’s Monetary Authority Raised Interest Rates 25bps Despite Banking Liquidity at 2008 Lows”