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Hong Kong's central bank follows the Fed and raises its base rate 25bp to 5%, as expected
The Hong Kong Monetary Authority is Hong Kong's central bank.
Raises its base rate to 5%, up 25bp. The HKD is pegged to the USD, the HKMA follows FOMC rate moves as a matter of course.
The HKD trades in a band linked to the US dollar prescribed by the HKMA. You can see the limits of the band in the chart below.
This article was written by Eamonn Sheridan at www.forexlive.com... Read More Posted: Feb 1 2023, 23:35
Author Name: forexlive
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