HKMA Holds Rate at 0.50% Following FOMC

The Hong Kong Monetary Authority kept its base interest rate unchanged at 0.50% following the decision of the US Federal Reserve to leave the fed funds rate unchanged at 0-0.25%, and $400B portfolio rearrangement. Norman Chan, HKMA Chief Executive, said of the FOMC announcement: "This time the Fed's new policies will not have any impact on Hong Kong's interbank (HIBOR) interest rate,".