US, WASHINGTON (NEWS OBSERVATORY) — The Hong Kong Monetary Authority (HKMA) on Wednesday lowered its key rate by 50 basis points to 1.5% after the US Federal Reserve suddenly lowered its rate by a similar amount.
Changes in Hong Kong’s monetary policy are taking place in parallel with the United States, since the Hong Kong currency is pegged to the US dollar in a narrow range of 7.75 to 7.85 per dollar.
“There is still a lot of uncertainty in the development of the epidemic, very great volatility will remain in the financial markets,” the CBR said in a statement.
“Investors must manage risks properly,” the report says.
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