HKMA chief says expects overnight interbank rate to rise at much faster pace
9:19 pm Wednesday, July 27th, 2022
HONG KONG (Reuters) – Hong Kong Monetary Authority (HKMA) chief Eddie Yue said on Thursday he expects the city’s overnight and one-month interbank rate to continue to rise, but at a much faster pace.
Yue was speaking after the city’s de facto central bank raised its base rate charged through the overnight discount window by 75 basis points to 2.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin.
(Reporting By Donny Kwok and Anne Marie Roantree; Editing by Christian Schmollinger)
