Hong Kong’s monetary authority has held its base interest rate steady, following the lead of the US Federal Reserve, as analysts said the inflationary impact of the US-Israel war with Iran had reduced the chances of a rate cut this year. The city’s base rate would stay at 4 per cent, the Hong Kong Monetary Authority (HKMA) said on Thursday, hours after the US Federal Reserve kept its target rate in the range of 3.5 to 3.75 per cent following the third meeting of the Federal Open Market Committee...
Powell's news conference after holding rates covered the US-Israel war with Iran, inflation, legal attacks, and the Fed's independence
Jerome Powell said he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time”, citing the “unprecedented” legal attacks against the central bank by the Trump administration. “I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Powell said at a press conference after the Fed announced its decision to keep its benchmark interest rate steady. Powell’s decision...
Central bank keeps interest rates steady at 3.5-3.75 percent amid inflation concerns and global economic strain.