Hong Kong Adjusts Base Rate in March 2018 to 2%
Hong Kong | 22nd March 2018
The Hong Kong Monetary Authority (HKMA) announced today (Thursday) that the Base Rate was adjusted upward by 25 basis points to 2% with immediate effect according to a pre-set formula.
” HONG KONG base rate AT 2%”
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.
Official Press Release by Hong Hong Monetary Authority (The latest monthly figures are preliminary and subject to change)