Monday, May 5, 2008

Hong Kong reduces base rate to 3.5%.

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Hong Kong reduces base rate to 3.5%. According to Hong Kong 's official website, the Monetary Authority announced last Friday that it had reduced the Base Rate by 25bps to 3.5% in line with the recent 25bps rate cut by the US Federal Reserve. Monetary Authority Chief Executive Joseph Yam stated that as a result of the US economic slowdown, the US interest rate outlook was uncertain. Yam also said that owing to volatile market conditions, banks were expected to be cautious in deciding their deposit rates.

Securitisation is not dead

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Hong Kong reduces base rate to 3.5%.

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