The Hong Kong Monetary Authority/HKMA lowered its base rate by 25 basis points to 2.0 percent on October 31th, 2019. Lending Rate for Hong Kong from Census and Statistics Department Hong Kong Special Administrative Region (HKSARG) for the Time and Savings Deposit Rates release. The HKMA also said it will continue closely monitoring the movement of the foreign exchange and local currency market, with a view to maintain the stability of Hong Kong dollar through the link exchange system.
In Hong Kong, the interbank rate is the rate of interest charged on short-term loans made between banks..
It was the third rate cut this year, tracking a similar move by the US Federal Reserve as Hong Kong's currency is pegged to the US dollar. The central bank sets its base rate 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. Given the uncertainties about interest rates outlook in the US, the public should continue to manage risks prudently" the HKMA chief executive Norman Chan said. The main interest rate is Base rate, adjusted with accordance to the Hong Kong dollar’s demand or supply. Looking ahead, "HKD interest rates should track USD interest rates, but short-term interest rate movements are affected by changes in supply and demand of HKD funding. Interest Rate Decision
The main interest rate is Base rate, adjusted with accordance to the Hong Kong dollar’s demand or supply.
This page provides - Hong Kong Prime Lending Rate - actual values, historical data, forecast, chart, statistics, …
Interest Rate Decision
The Countercyclical Capital Buffer is part of the Basel III regulatory capital framework and aims to build up additional capital during periods of excessive credit growth.The Hong Kong Monetary Authority/HKMA lowered its base rate by 50 basis points to 1.5 percent on March 4th, 2020, following a similar move by the US Federal Reserve as Hong Kong's currency is pegged to the US dollar.
Interest Rate Decision
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Interest Rate Decision
Deposit Interest Rate in Hong Kong increased to 0.04 percent in 2018 from 0.01 percent in 2017. In Hong Kong the interest rates decisions are taken by the Hong Kong Monetary Authority (HKMA). The Trading Economics Application Programming Interface (API) provides direct access to our data.
This page provides forecast and historical data, charts, statistics, news and updates for Hong Kong Lending Rate. Interbank Rate in Hong Kong averaged 1.87 percent from 1982 until 2020, reaching an all time high of 15.56 percent in September of 1983 and a record low of 0.07 percent in December of 2003.
TEForecast
Bank Lending Rate in Hong Kong remained unchanged at 5 percent in July from 5 percent in June of 2020.
The central bank also slashed with immediate effect the countercyclical capital buffer it required financial institutions to hold from 2% to 1% of their risk-weighted assets. The monetary authority mentioned that there were many uncertainties in future changes of the COVID-19 epidemic and there would still be very large fluctuations in the financial market.