The Hong Kong Monetary Authority raised its benchmark rate by 25 basis points on Thursday, following the policy announcement of the U.S. Federal Reserve a day earlier.
The HKMA adjusted the Base Rate upward to 5.5 percent with immediate effect.
The Federal Reserve had lifted the target range for the federal funds rate by 25 basis points to 5 to 5.25 percent, making the tenth straight rate hike.
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by Renju Jaya
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