The Hong Kong Monetary Authority (HKMA) maintained its base rate steady at 5.75% on May 2nd, hours after the US Federal Reserve left its key interest rate unchanged for the sixth consecutive time. Monetary policy in the Asian finance hub moved in line with the US as the local currency is pegged to the greenback. Thursday's move came amid elevated borrowing costs that have weighed on Hong Kong's recovery from a pandemic slump. Financial Secretary Paul Chan said last month that the city's economy will maintain its moderate growth for the fifth successive quarter in Q1 of 2024 following an annual expansion of 4.3% in the prior period. The government has projected GDP growth of between 2.5 to 3.5% this year after expanding by 3.2% in 2023. source: Hong Kong Monetary Authority

The benchmark interest rate in Hong Kong was last recorded at 5.75 percent. Interest Rate in Hong Kong averaged 3.21 percent from 1998 until 2024, reaching an all time high of 8.00 percent in May of 2000 and a record low of 0.50 percent in December of 2008. This page provides the latest reported value for - Hong Kong Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2024.

The benchmark interest rate in Hong Kong was last recorded at 5.75 percent. Interest Rate in Hong Kong is expected to be 5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Interest Rate is projected to trend around 4.25 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-09-21 12:45 AM
Interest Rate Decision
5.75% 5.75% 5.75%
2023-11-02 12:15 AM
Interest Rate Decision
5.75% 5.75% 5.75%
2023-12-14 01:20 AM
Interest Rate Decision
5.75% 5.75% 5.75%


Related Last Previous Unit Reference
Banks Balance Sheet 27071918.14 27024283.45 HKD Million Mar 2024
Foreign Exchange Reserves 416400.00 423600.00 USD Million Apr 2024
Interest Rate 5.75 5.75 percent May 2024
Loans to Private Sector 10087476.00 10007676.00 HKD Million Mar 2024
Money Supply M0 583394.00 586838.00 HKD Million Mar 2024
Money Supply M1 2556002.00 2563015.00 HKD Million Mar 2024
Money Supply M2 17186277.00 17144957.00 HKD Million Mar 2024
Money Supply M3 17226182.00 17184447.00 HKD Million Mar 2024

Hong Kong Interest Rate
In Hong Kong the interest rates decisions are taken by the Hong Kong Monetary Authority (HKMA). The main interest rate is Base rate, adjusted with accordance to the Hong Kong dollar’s demand or supply.
Actual Previous Highest Lowest Dates Unit Frequency
5.75 5.75 8.00 0.50 1998 - 2024 percent Daily


News Stream
Hong Kong Holds Base Rate Steady After FOMC Decision
The Hong Kong Monetary Authority (HKMA) maintained its base rate steady at 5.75% on May 2nd, hours after the US Federal Reserve left its key interest rate unchanged for the sixth consecutive time. Monetary policy in the Asian finance hub moved in line with the US as the local currency is pegged to the greenback. Thursday's move came amid elevated borrowing costs that have weighed on Hong Kong's recovery from a pandemic slump. Financial Secretary Paul Chan said last month that the city's economy will maintain its moderate growth for the fifth successive quarter in Q1 of 2024 following an annual expansion of 4.3% in the prior period. The government has projected GDP growth of between 2.5 to 3.5% this year after expanding by 3.2% in 2023.
2024-05-02
Hong Kong Holds Base Rate Steady After Fed Move
The Hong Kong Monetary Authority (HKMA) maintained its base rate steady at 5.75% on March 21st, hours after the US Federal Reserve left interest rates unchanged for the fifth consecutive gathering. Monetary policy in the Asian finance hub moved in line with the US as the local currency is pegged to the greenback. Thursday's action came amid a wave of central bank decisions globally, with many expected to hold rates until policy shifts in the US. Domestically, Hong Kong launched its annual budget last month, introducing a range of new tax and support policies for individuals and businesses. The city's economy grew by 4.3% yoy in Q4 of 2023, marking the strongest pace in two years and bringing a 3.2% growth for the whole year, amid robust inbound tourism and recovery in private consumption. In 2024, Hong Kong's GDP is expected to expand by 2.5%-3.5%.
2024-03-21
Hong Kong Maintains Base Rate After FOMC Decision
The Hong Kong Monetary Authority (HKMA) kept its base rate steady at 5.75% in the first monetary policy decision of 2024, hours after the US Federal Reserve left its monetary tightening cycle for the fourth consecutive meeting and signaled that it was not yet ready to start cutting rates in March. The financial hub has kept its monetary policy in lockstep with the Fed since 1983 to preserve the local currency's peg to the US dollar. Thursday's move came after the Hong Kong economy expanded 4.3% yoy in Q4 of 2023, the strongest pace in two years, driven by inbound tourism and private consumption. Commercial banks in the city are expected to hold their prime rates unchanged, in line with the HKMA's decision.
2024-02-01