Hong Kong Monetary Authority responds to the Federal Reserve's interest rate decision

The Hong Kong Monetary Authority (HKMA) stated that the Federal Reserve's decision to keep interest rates unchanged aligns with market expectations. The statement released after the meeting noted that the economy continues to grow and the employment market remains stable, but inflation is still at a relatively high level, reflecting the Committee's concerns about the inflation outlook. In Hong Kong, the currency and financial markets continue to operate in an orderly manner. Under the Linked Exchange Rate System, Hong Kong dollar interbank offered rates (HIBOR) are generally close to US dollar interest rates, while shorter-term HIBOR is also influenced by local Hong Kong dollar liquidity supply and demand factors, such as seasonal influences and capital market activities. Changes in US interest rates will depend on the inflation trend, employment market conditions, and other economic data and will also impact Hong Kong's interest rate environment. Citizens need to carefully consider and manage interest rate risks when making decisions on property purchases, investments, or borrowing. The HKMA will continue to closely monitor market developments and maintain monetary and financial stability. (Hong Kong Monetary Authority)