March 3, 2020 / 11:41 PM / a month ago

Hong Kong's central bank cuts interest rate after Fed move

HONG KONG, March 4 (Reuters) - The Hong Kong Monetary Authority (HKMA) lowered its base rate charged through the overnight discount window by 50 basis points to 1.5% on Wednesday, hours after the U.S. Federal Reserve delivered a rate cut of the same margin.

Hong Kong’s monetary policy moves in lock-step with the United States as the city’s currency is pegged to the greenback at a tight range of 7.75-7.85 per dollar. (Reporting by Donny Kwok; Editing by Chris Reese)

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