Hong Kong Monetary Authority lowers Base Rate to 1.5%

By Richard Connell

New York, Oct. 30 - The Hong Kong Monetary Authority lowered its Base Rate by 50 basis points to 1.5%, according to a press release.

The authority had announced a decision on October 8 to peg the interest rate at 50 bps above the U.S. Federal Funds rate.

The Federal Reserve cut its interest rate by 50 bps to 1% on Wednesday.

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