On Thursday, a number of the largest banks in Hong Kong, such as HSBS and Bank of China, raised interest rates on loans for the first time in more than 10 years. It was made after the Hong Kong Monetary Authority (HKMA) raised the benchmark interest rate by 25 basis points to 2.5% per annum after the Federal Reserve had raised the rate. To keep the local currency at the level of 7.8 Hong Kong dollar against the US dollar, Hong Kong's monetary policy should be tied to the policy of the Fed. At a briefing in Hong Kong, the head of the HKMA, Norman Chan, said that “the era of extremely cheap lending is over”, and investment and real estate markets expect volatility.
Six central banks to hold meeting on cryptocurrency04.02.2020
Australia bids for second flight from Wuhan as first batch of evacuees move to Christmas Island03.02.2020
China’s industry reports first profit decline in 4 years23.01.2020
Malaysia to purchase more sugar from India to resolve dispute