Hong Kong raised basic interest rates to 2.75%

Xinhua News Agency, Hong Kong, July 28 (Reporter Li Baitao) The Hong Kong Financial Administration announced on the 28th that the basic interest rate was adjusted to 2.75%to respond to the impact of the Federal Fund interest rate on the 27th (US time) on the 27th (US time).

The US Federal Fund interest rate raised 75 basis points between 2.25%and 2.50%this time. This is the fourth rate hike this year, and it is also the second consecutive interest rate hike 75 basis points.

The Hong Kong Financial Authority stated that the basic interest rate is the basic interest rate for calculating the discount rate applicable to repurchase trading when calculating the discount window.The current basic interest rate is the lower limit of the US federal fund interest rate target range plus 50 basis points.

Yu Weiwen, president of the Hong Kong Financial Administration, said that the basic interest rate changes belong to the design and expectations, and also raised interest rates many times from 2015 to 2018.Hong Kong's contact exchange rate system is a pillar of the stable currency finance in Hong Kong. After multiple economic cycles, especially in the past many regions and global financial crises, it is proven to be stable and reliable.

[Editor in charge: Shi Ge]

- END -