HSBC raises best lending rate to 5.125% after Hong Kong rate hike

HSBC raises best lending rate to 5.125% after Hong Kong rate hike

HONG KONG (Reuters) – HSBC Holdings (NYSE:) said on Thursday it raised its best lending rate in Hong Kong by 12.5 basis points to 5.125% as of September 23 after the city’s central bank raised the key rate imposed through a window. Night discount. 75 basis points.

The Hong Kong Monetary Authority earlier on Thursday raised the base rate charged through the overnight discount to 3.50% from 2.75%.

Hong Kong tracks US interest rate movements because its currency is pegged to the US dollar, although local banks have some leeway to delay US moves when setting base rates.

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