The Hong Kong Monetary Authority (HKMA) raised the base rate by 50 basis points to 4.75 percent on December 15th, the seventh rate hike this year, hours after the US Federal Reserve delivered a similar rate hike, as it stuck with efforts to cool surging inflation. The latest move brought borrowing costs to the highest level since January 2008. Monetary policy in the financial hub moves in lockstep with the Fed given the Hong Kong dollar’s peg with the US currency in a tight range of 7.75-7.85 per dollar. The slower pace of rate hikes was needed, as Hong Kong's economy registered an unexpected contraction in Q3 of 2022 following weak external trade and feeble private consumption. The city's de facto central bank said US rate hikes will not affect the financial and monetary stability of Hong Kong, while financial and money markets will continue to operate in a smooth and orderly manner. source: Hong Kong Monetary Authority

Interest Rate in Hong Kong averaged 3.10 percent from 1998 until 2022, 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 January of 2023.

Interest Rate in Hong Kong is expected to be 5.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Hong Kong Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-22 12:30 AM 3.5% 2.75% 3.5%
2022-11-03 02:00 AM 4.25% 3.5% 4.25%
2022-12-15 02:00 AM 4.75% 4.25% 4.75%
2023-02-02 02:00 AM 4.75% 5.0%


Related Last Previous Unit Reference
Interest Rate 4.75 4.25 percent Dec 2022
Money Supply M1 2896868.00 2939093.00 HKD Million Nov 2022
Money Supply M0 580312.00 586302.00 HKD Million Nov 2022
Money Supply M2 16408122.00 16264316.00 HKD Million Nov 2022
Money Supply M3 16442252.00 16298787.00 HKD Million Nov 2022
Foreign Exchange Reserves 424000.00 423200.00 USD Million Dec 2022
Banks Balance Sheet 27194558.00 27427812.00 HKD Million Nov 2022
Loans to Private Sector 10657617.00 10694847.00 HKD Million Nov 2022

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
4.75 4.25 8.00 0.50 1998 - 2022 percent Daily

News Stream
Hong Kong Lifts Base Rate by 50Bps After Fed Hike
The Hong Kong Monetary Authority (HKMA) raised the base rate by 50 basis points to 4.75 percent on December 15th, the seventh rate hike this year, hours after the US Federal Reserve delivered a similar rate hike, as it stuck with efforts to cool surging inflation. The latest move brought borrowing costs to the highest level since January 2008. Monetary policy in the financial hub moves in lockstep with the Fed given the Hong Kong dollar’s peg with the US currency in a tight range of 7.75-7.85 per dollar. The slower pace of rate hikes was needed, as Hong Kong's economy registered an unexpected contraction in Q3 of 2022 following weak external trade and feeble private consumption. The city's de facto central bank said US rate hikes will not affect the financial and monetary stability of Hong Kong, while financial and money markets will continue to operate in a smooth and orderly manner.
2022-12-15
Hong Kong Lifts Base Rate After FOMC Rate Decision
The Hong Kong Monetary Authority (HKMA) raised the base rate by 75 basis points to 4.25 percent on November 3rd, the sixth rate hike this year, hours after the US Federal Reserve delivered a similar rate hike, as it stepped up efforts to cool surging inflation. The latest move brought borrowing costs to the highest level since March 2008. Monetary policy in the financial hub moves in lockstep with the Fed given the Hong Kong dollar’s peg with the US currency in a tight range of 7.75-7.85 per dollar. The city's de facto central bank said US rate hikes will not affect the financial and monetary stability of Hong Kong, as financial and money markets will continue to operate in a smooth and orderly manner.
2022-11-03
Hong Kong Raises Rates After Fed Move
The Hong Kong Monetary Authority (HKMA) raised the base rate by 75 basis points to 3.5 percent on September 22th, the fifth rate hike this year. The latest move brought borrowing costs to the highest level since October 2008, hours after the US Federal Reserve delivered a similar rate hike, as it stepped up efforts to cool surging inflation. Monetary policy in the financial hub moves in lockstep with the Fed given the Hong Kong dollar’s peg with the US currency in a tight range of 7.75-7.85 per dollar. The rate hike comes as the city’s daily coronavirus cases continue to fall, with financial secretary Paul Chan recently saying the government try to strike a balance between curbing the pandemic and facilitating travel while preserving the economy.
2022-09-22