After the U.S. Federal Reserve Commission announced interest rates on Wednesday (February 1), the Hong Kong Financial Administration announced on Thursday (February 2) that the basic interest rate was set at 5%according to the preset formula, and it took effect immediately.
The Federal Reserve has raised the federal fund interest rate target range of 25 basis points to 4.5%to 4.75%. This is the eighth rate hike for the Fed since March last year.
According to the official website of the Hong Kong HKMA, the basic interest rate of Hong Kong is used as a basic interest rate for the discount rate applicable to repurchase transactions when calculating the discount window.At present, the basic interest rate is set at the current limit of the current US Federal Fund interest rate target range plus 50 basis points, or the average value of the five -day mobile average of the five -day movement of the Bank of Hong Kong interbank overnight and one month is prevailing.
In response to the 25th basis points of the target range of the federal fund interest rate in the United States on February 1 (US time).The average five -day movement average of the five -day movement of the Hong Kong Bank's interbank interest rate is 2.05%, so according to the preset formula, the basic interest rate of Hong Kong is set at 5%.
