2nd February 2023 – (Hong Kong) HSBC announced on Thursday (2nd) that the current Hong Kong Dollar Best Lending Rate will remain unchanged at the current level of 5.625%. HSBC adjusted the lending rate for the last time on 16th December, 2022, when the interest rate was raised by 0.25%. At the same time, the interest rate offered by HSBC to Hong Kong dollar savings accounts will remain unchanged.
The Hong Kong Monetary Authority announced this morning that the Base Rate has been set at 5.00 per cent with immediate effect according to a pre-set formula. The Fed, as expected, on Wednesday increased the fed funds rate a quarter point to 4.5 percent to 4.75 percent.
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