Hong Kong Monetary Authority Increase Base Interest Rate to 1.25%
Hong Kong | 16th March 2017
The Hong Kong Monetary Authority (HKMA) adjusted the Base Rate from 1.00% to 1.25% with immediate effect. The interest rate is increased by 0.25% or 25 basis points (bps).
” Hong Kong Central Bank increased Base Rate from 1.00% to 1.25% “
In the official press release by HKMA, ” The increase in the Base Rate follows the 25-basis point upward shift in the target range for the US federal funds rate on 15 March (US time).”
Previous Increase, 15th December 2016
The last upward adjustment was made on 15th December 2016. The Base Rate was adjusted upward by 25 bps to 1.00%. The increase in the Base Rate follows the 25-basis point upward shift in the target range for the US federal funds rate on 14 December (US time).
HKMA’s Base Rate is set according to a pre-set formula.
Official Press Release by Hong Kong Monetary Authority
Photo: Hong Kong
About the Base Rate:
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.
HKMA Base Rate: Last 5 Changes
|HKMA Annoucements||30th Oct 2008||16th Dec 2008||17th Dec 2015||15th Dec 2016||16th March 2017|