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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