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...
Singapore tightened monetary policy on Monday for the second time in three months, as the fallout from the US war against Iran keeps global energy markets volatile and inflation risks elevated. The Monetary Authority of Singapore (MAS) said it would increase the rate of appreciation of the local dollar’s trade-weighted value. The move comes as oil prices remain elevated owing to tensions in the Middle East, sparked by the US-Israel attacks on Iran that began on February 28, and continue to cast...