The Federal Reserve of the United States has decided to maintain the interest rate at 5.25% to 5.5%, while the Hong Kong Monetary Authority continues to keep its base rate at 5.75%.
According to the Hong Kong Monetary Authority, future interest rate decisions by the Federal Reserve will depend on economic data, outlook, and various risks. The recent data trends are unclear, with inflation still on the high side. The timing of the Federal Reserve’s rate cuts remains uncertain. Overall, the high interest rate environment may persist for some time.
The Hong Kong Monetary Authority noted that the financial and monetary markets in Hong Kong continue to operate smoothly. The Hong Kong dollar exchange rate remains stable, and the Hong Kong dollar interbank rates may stay at relatively high levels in the near future. Citizens are advised to carefully consider and manage interest rate risks when making decisions related to property purchase, mortgages, or other borrowing. The Hong Kong Monetary Authority will continue to closely monitor market changes to maintain monetary and financial stability.