HKMA tracks Fed and hikes rates by 25 bps

The Hong Kong Monetary Authority (HKMA) has annonced that it raises its benchmark rate by 25bp, from 1% to 1.25%, tracking the decision by the Fed just hours ago, when it rose rates to a new range of 0.75%-1%.

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The base rate is the interest rate forming the foundation upon which the Discount Rates for repurchase-agreement transactions through the Discount Window are computed

The Base Rate is currently set at 50 basis points above the prevailing US Fed Funds Target Rate or the average of the five-day moving averages of the overnight and one-month HIBORs, whichever is the higher.