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Economic news

HSBC leaves best lending rate unchanged at 5% despite central bank hike

06/16/2022

Less than a minute

2022.06.16 07:55

HSBC leaves best lending rate unchanged at 5% despite central bank hike
FILE PHOTO: People walk in front of the headquarters for HSBC Bank in Jakarta April 11, 2008. REUTERS/Beawiharta (INDONESIA)//File Photo

HONG KONG (Reuters) – HSBC Holdings (NYSE:HSBC) said on Thursday it will leave its best lending rate unchanged in Hong Kong at 5% despite the city’s central bank raising the base rate.

The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 75 basis points to 2%, hours after the U.S. Federal Reserve delivered a rate hike of the same magnitude.

Source

06/16/2022

Less than a minute