- The Hong Kong Monetary Authority lifted its benchmark rate by 25 basis points to 4.25%, its first increase since 2023, according to a Thursday statement.
- The HKMA moves in lockstep with the Federal Reserve to protect the Hong Kong dollar's peg to the greenback.
- The rate hike threatens a Hong Kong property recovery that has been unfolding since last year.
Quotes
“The HKMA lifted its benchmark by 25 basis points to 4.25%, according to a statement on Thursday.”