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.