HKMA chief says expects overnight interbank rate to rise at much faster pace

2022.07.28 10:10

FILE PHOTO: An attendant walks outside the entrance to Hong Kong Monetary Authority in Hong Kong, China November 10, 2015. REUTERS/Bobby Yip

HONG KONG (Reuters) – Hong Kong Monetary Authority (HKMA) chief Eddie Yue said on Thursday he expects the city’s overnight and one-month interbank rate to continue to rise, but at a much faster pace.

Yue was speaking after the city’s de facto central bank raised its base rate charged through the overnight discount window by 75 basis points to 2.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin.

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