HSBC Raises Lending Rate In Hong Kong For First Time In 4 Years

22nd September 2022

Hong Kong's dominant lender increased the rate by 12.5 basis points to 5.125 per cent, following a move from the Hong Kong Monetary Authority to raise the city’s base rate to 3.5 per cent from 2.75 per cent.

The city’s monetary policy mirrors that of the US Federal Reserve in order to maintain the Hong Kong dollar’s peg to the currency.