The Hong Kong Monetary Authority decided to keep its benchmark rate unchanged on Thursday following the policy announcement of the U.S. Federal Reserve a day earlier.
The U.S. central bank held interest rates steady as expected at the end of a two-day policy meeting but projected another rate hike by year end and monetary policy significantly tighter through 2024 than previously expected.
Hong Kong’s new investment guidelines have smoothened the process for banks and brokers to sell products to ultra-high net worth investors aligning the city with international practices and strengthening Hong Kong’s wealth management industry.
Hong Kong's central bank raised its benchmark rate by a quarter-point on Thursday, in tandem with the decision of the US Federal Reserve. The Hong Kong Monetary Authority adjusted the Base Rate to 5.
Authorities in Hong Kong and mainland China are in consensus on a number of measures that will enhance the cross-border Wealth Management Connect and Bond Connect schemes, the city’s de facto central banker said in Beijing on Friday.