The Hong Kong Monetary Authority continues to maintain the unchanged basic interest rate at 4.75%.

After the Federal Reserve in the United States maintained interest rates, the Hong Kong Monetary Authority also kept its base rate unchanged at 4.75%. The Fed announced this morning that it will keep the federal funds rate at 4.25 to 4.5%, as expected by the market, and received unanimous approval from all FOMC members. The base rate is the underlying rate used to calculate the discount rate applicable for repurchase transactions conducted through the discount window. Currently, the base rate in Hong Kong is set at 50 basis points above the lower limit of the current target range for the federal funds rate in the United States, or the average of the 5-day moving average of the overnight and 1-month Hong Kong Interbank Offered Rate, whichever is higher.