HSBC and StanChart cut key benchmark rates in Hong Kong

Pedro Gonçalves
clock • 1 min read

Standard Chartered and HSBC, two of Hong Kong's biggest banks,  have slashed their key benchmark rates in the city, their largest market.  HSBC cut its best lending rate by 12.5 basis points to 5% in Hong Kong. Standard Chartered , another major lender in the city, soon followed HSBC's announcement, reducing its best lending rate by 12.5 basis points to 5.25%. The HKMA lowered its base rate to 2% from 2.25%, hours after the Fed's quarter-point cut, according to the institution's page on Bloomberg. As the Hong Kong dollar is linked to the greenback, the territory essentially imports US...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login