Key Hong Kong Interest Rate Kept at 0.5%

December 17, 2009

The Hong Kong Monetary Authority does not have an independent domestic monetary policy, only a 26-year-old policy to peg its exchange rate around 7.75 per U.S. dollar.  The HKMA takes its marching orders from the Fed and, accordingly, left its key interest rate at 0.5% following news from the FOMC that the Fed funds rate target will stay at 0.25%.

Copyright Larry Greenberg 2009.  All rights reserved.  No secondary distribution without express permission.

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