Hong Kong Base Rate Left At 0.5%
August 13, 2009
The Hong Kong Monetary Authority left monetary policy unchanged as expected. Since October 1983, domestic monetary policy has been subordinated to an exchange rate policy that links the Hong Kong dollar to the U.S. dollar at a parity of 7.8. That effectively ties changes in Hong Kong rates to changes in Fed policy. No change in the Fed’s rate yesterday dictated what the HKMA would do today. More about Hong Kong interest rate policy can be read by clicking here.
Copyright Larry Greenberg 2009.
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