美联储一如市场所料，进一步调低息率，实施较宽松的货币政策。然而，未来的减息步伐取决于美国经济数据，而后者会受财政和经济贸易政策所影响，因此仍有不少变数。加上目前各主要经济体的货币政策环境未必完全同步，环球市场波动的风险值得关注。After a two-day meeting, the Federal Open Market Committee of the Federal Reserve announced a 25 basis point rate cut on the morning of November 8th Hong Kong time, lowering the target range for the federal funds rate to 4.5-4.75%. The Hong Kong Monetary Authority adjusted the discount window base rate to 5% according to established mechanisms, effective immediately.
Below is the full text of the press release:
The Federal Reserve Board (the Fed) announced a 25 basis point rate cut after a consecutive two-day meeting on this morning in Hong Kong time, lowering the target range for the federal funds rate to 4.5-4.75 basis points. The Monetary Authority adjusted the discount window base rate to 5 basis points according to established mechanisms, effective immediately.
As expected by the market, the Fed further lowered interest rates and implemented a more accommodative monetary policy. However, the future pace of rate cuts depends on U.S. economic data, which in turn is affected by fiscal and trade policies, hence there are still many variables. Additionally, as the monetary policy environments of major economies may not be entirely synchronized at present, the risk of global market volatility is worth monitoring.
The operation of the Hong Kong financial and monetary markets has been smooth, with stable market liquidity and a stable exchange rate of the Hong Kong dollar. Hong Kong dollar interest rates, under the Linked Exchange Rate System, are generally close to U.S. dollar rates, while short-term rates are also influenced by local market supply and demand for Hong Kong dollars, such as seasonal factors and capital market activities.
In terms of deposit and lending rates, banks typically consider factors such as interbank market fund supply and demand, interest rate levels, and their own fund cost structures to evaluate whether adjustments are necessary and the extent of such adjustments. The U.S. rate reduction cycle is still in its early stages, and rates may remain relatively high for a period of time. When making decisions on property purchases, mortgages, or other loans, citizens should continue to carefully consider and manage interest rate risks.
The decision by the USA to continue lowering interest rates will not impact the financial and monetary stability of Hong Kong. The Monetary Authority will closely monitor market changes, including interest rate trends and global fund flows, to ensure the financial and monetary stability of Hong Kong.
Editor/Rocky
