Hong Kong’s monetary authority has maintained its base rate following the US Federal Reserve’s decision to keep its key rate unchanged. The city’s base rate was kept at 4 per cent by the Hong Kong Monetary Authority (HKMA) on Thursday. Hours earlier, the US Federal Reserve also retained its target rate in the range of 3.5 per cent to 3.75 per cent, concluding its fifth Federal Open Market Committee (FOMC) meeting this year. “For some households, businesses and market professionals, five years...
The Federal Reserve held interest rates steady on Wednesday, a choice that may intensify questions about how US central bank chief Kevin Warsh will deliver on his commitment to bring inflation back down to the 2 per cent target. The widely expected decision to leave the benchmark interest rate in the 3.50 per cent to 3.75 per cent range drew dissents from three of the 12 members of the policy-setting Federal Open Market Committee who “preferred” a quarter-percentage-point hike at this...
Elevated inflation partly reflects supply shocks that have increased prices, including of energy, the Fed said.