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Hong Kong 6 Big Banks Prime Lending Rate Remain Unchanged: HSBC, Hang Seng Bank & Bank of China Prime Lending Rate at 5.875% & Savings Account Deposit Rate at 0.875%, DBS Hong Kong Prime Lending Rate at 6% & Savings Account Deposit Rate at 0.23% to 0.75%, Standard Chartered & Citibank Prime Lending Rate at 6.125%, Hong Kong Monetary Authority Issues Statement on United States Fed Interest Rate Decision

13th June 2024 | Hong Kong

Hong Kong 6 big banks prime lending rate remain unchanged: HSBC, Hang Seng Bank & Bank of China prime lending rate at 5.875% & savings account deposit rate at 0.875%.  DBS Hong Kong prime lending rate at 6% & savings account deposit rate at 0.23% to 0.75%.  Standard Chartered & Citibank prime lending rate at 6.125%.  The Hong Kong Monetary Authority (HKMA) has issued a statement on the United States Fed interest rate decision (13/6/24): “The Federal Open Market Committee of the Federal Reserve (the Fed) announced early today (Hong Kong time) after its two-day meeting that it had decided to keep the target range for the federal funds rate unchanged at 5.25-5.5%.  The Fed’s future interest rate decisions will be dependent on incoming data, the evolving outlook and the balance of risks.  With recent economic data showing mixed signs and inflation remaining high, when the Fed will start cutting interest rates is still uncertain.  Overall speaking, the high interest rate environment may last for some time.  The financial and monetary markets of Hong Kong continue to operate in a smooth and orderly manner.  The Hong Kong dollar exchange rate remains stable, and the Hong Kong dollar interbank rates might remain high for some time.  The public should carefully assess and manage the relevant risks when making property purchase, mortgage or other borrowing decisions.  The HKMA will continue to closely monitor market developments and maintain monetary and financial stability.”  In 2024 May, Hong Kong banks HSBC, Standard Chartered Bank & Bank of China have kept their prime lending rate unchanged at 5.875%, after the United States Federal Reserve had kept the interest rate unchanged at 5.25% to 5.5% range (1/5/24). 

“ Hong Kong 6 Big Banks Prime Lending Rate Remain Unchanged: HSBC, Hang Seng Bank & Bank of China Prime Lending Rate at 5.875% & Savings Account Deposit Rate at 0.875%, DBS Hong Kong Prime Lending Rate at 6% & Savings Account Deposit Rate at 0.23% to 0.75%, Standard Chartered & Citibank Prime Lending Rate at 6.125%, Hong Kong Monetary Authority Issues Statement on United States Fed Interest Rate Decision “

 



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Hong Kong Banks HSBC, Standard Chartered Bank & Bank of China Prime Lending Rate Remain Unchanged at 5.875%, Hong Kong Monetary Authority Issues Statement on United States Fed Interest Rate Decision

3rd May 2024 – Hong Kong banks HSBC, Standard Chartered Bank & Bank of China have kept their prime lending rate unchanged at 5.875%, after the United States Federal Reserve had kept the interest rate unchanged at 5.25% to 5.5% range (1/5/24).  The Hong Kong Monetary Authority (HKMA) has issued a statement on the United States Fed interest rate decision (2/5/24): “The Federal Open Market Committee of the Federal Reserve (the Fed) announced early today (Hong Kong time) after its two-day meeting that it had decided to keep the target range for the federal funds rate unchanged at 5.25-5.5%.  The Fed’s future interest rate decisions will be dependent on incoming data, the evolving outlook and the balance of risks.  It has not yet gained enough confidence about the US inflation trajectory to start cutting interest rates.  The high interest rate environment may last for some time.  The financial and monetary markets of Hong Kong continue to operate in a smooth and orderly manner.  The Hong Kong dollar exchange rate remains stable, and the Hong Kong dollar interbank rates might remain high for some time.  The public should carefully assess and manage the relevant risks when making property purchase, mortgage or other borrowing decisions.  The HKMA will continue to closely monitor market developments and maintain monetary and financial stability.”

 

 

Hong Kong Banks HSBC, Standard Chartered Bank & Bank of China Prime Lending Rate Remain Unchanged at 5.875%, Hong Kong Monetary Authority Issues Statement on United States Fed Interest Rate Decision

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