CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks. Trading CFDs is high risk and is not suitable for everyone. Refer to our PDS and Target Market Determination. AFSL 513393
Open platformOpen platform

Hong Kong Monetary Authority leaves interest rates unchanged, tracking Fed move

By Reuters News

HONG KONG, Oct 29 (Reuters) - The Hong Kong Monetary Authority left its base interest rate unchanged on Thursday at 4.25%, following the US Federal Reserve's decision to hold rates steady.

Hong Kong's monetary policy moves in lock-step with the United States as the city's currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar.

The Hong Kong dollar was last at 7.8452 per dollar.

"US interest rate adjustments are subject to considerable uncertainty, and will depend on developments in inflation, labour market, and other economic data, and may influence the interest rate environment in Hong Kong," HKMA said in a statement.

The outlook for the Hong Kong dollar and interbank rates can vary due to various factors, such as the market's risk appetite for carry trades, and the supply-demand conditions for Hong Kong dollars which are, in turn, influenced by capital market activities and other seasonal factors, it added.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.