Hong Kong Matches Fed's 25 Bip Interest Rate Cut
Yicai Global
/SOURCE : yicai
Hong Kong Matches Fed's 25 Bip Interest Rate Cut

(Yicai Global) Sept. 19 -- The Hong Kong Monetary Authority cut interest rates in the special administrative region by 25 basis points to 2.5 percent this morning, mimicking the US Federal Reserve's actions yesterday.

This marks the second time the HKMA has cut the interest rates this year after it clipped them by the same amount in August, also following in the Fed's footsteps. The current US rate sits between 1.75 percent and 2 percent.

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Keywords: Interest Rate