Discount Window Base Rates cut by 64 Basis Points in Hong Kong and Macau
The interest rate policy of the Hong Kong Monetary Authority is subordinated to maintaining the Hong Kong Dollar parity against the U.S. dollar. The former British colony’s currency has been pegged at 7.8 per USD since October 1983, and this necessitates changes in the HKMA’s key interest rate whenever the FOMC’s federal funds target is modified has happened yesterday. In turn, the Monetary Authority of Macau quickly matched ed HKMA’s lead, reducing the base rate of its discount window to 0.86% from 1.5%.
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This entry was posted on Monday, March 16th, 2020 at 9:47 am and is filed under Central Bank Watch. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
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