Hong Kong major lenders keep prime rate unchanged after Fed holds steady
Hong Kong's major banks kept their prime rates unchanged on Thursday after the US Federal Reserve held interest rates steady. HSBC and BOC Hong Kong maintained their lending rates at 5 per cent, while Standard Chartered Bank kept its rate at 5.25 per cent.
Hong Kong's major lenders kept their prime rates unchanged on Thursday, after the US Federal Reserve held interest rates steady.
The Hongkong and Shanghai Banking Corporation and BOC Hong Kong maintained their best lending rates at 5 per cent, while the rate of Standard Chartered Bank (Hong Kong) stayed the same at 5.25 per cent.
The lenders' Hong Kong dollar savings deposits also remained unchanged.
The prime rates in the city have been at the current levels since October last year, when local banks trimmed the figures by 0.125 percentage points, cutting back all the hikes since the US raised the interest rate in 2022.
Most of the Hong Kong interbank offered rates were mixed on Thursday, with the mortgage-linked one-month Hibor inching up to 2.71494 per cent.