Economic news
HSBC raising best lending rate to 5.375% after Hong Kong rate hike
2022.11.03 00:46
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© Reuters. FILE PHOTO: A logo of HSBC is seen on its headquarters at the financial Central district in Hong Kong, China August 4, 2020. REUTERS/Tyrone Siu//File Photo
HONG KONG (Reuters) – HSBC Holdings (NYSE:) said on Thursday it is raising its best lending rate in Hong Kong by 25 basis points to 5.375% effective Nov. 4 after the city’s de facto central bank raised the base rate charged through its overnight discount window by 75 basis points.
The Hong Kong Monetary Authority earlier on Thursday raised the base rate charged through its overnight discount window to 4.25% from 3.50%.
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