The rate moves in lockstep with the Fed’s rate since the Hong Kong dollar is pegged to the US currency. Local banks like HSBC Holdings Plc, Standard Chartered Plc and Hang Seng Bank Ltd tend to follow the HKMA’s move by adjusting their best lending rates, although they’re not obliged to do so. The HKMA said past experience shows that Hong Kong dollar interbank rates may not necessarily rise in tandem with US moves. The rate hike comes at a time when Hong Kong’s economy has been throttled by its
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星报-商业
2022-03-18 00:00:00.0