Hong Kong raises rates to keep pace with US Fed

The Hong Kong Monetary Authority (HMKA) has lifted their local interest rate by 25 basis points to 2.5%, remaining in lock-step with the US Fed.

The HKMA is known for matching the speed and size of US Federal Reserve rate hikes, and today is no different with the Hong Kong central bank locking in a 2.5% interest rate just hours after the US  Fed boosted interest rates by a comparable 25 basis points to 2.25%.