Published:
Monetary Authority decreases base rate to 4.5%
This follows a 25-basis point downward shift in the target range for the US federal funds rate.
The Monetary Authority has decreased the base rate to 4.5% with immediate effect, following a 25-basis point downward shift in the target range for the US federal funds rate.
It is the foundational interest rate used to calculate Discount Rates for repurchase transactions via the Discount Window.
At present, the rate is either at 50 basis points above the low end of 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.
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