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HSBC says to keep best lending rate at 5 pct in Hong Kong
March 16, 2017 / 3:28 AM / 8 months ago

HSBC says to keep best lending rate at 5 pct in Hong Kong

HONG KONG, March 16 (Reuters) - HSBC Holdings Plc said on Thursday it would maintain its best lending rate at 5 percent in Hong Kong, even after the central bank raised its benchmark interest rate by a quarter point for the second time in three months.

The Hong Kong Monetary Authority earlier on Thursday raised the base rate charged through its overnight discount window by 25 basis points to 1.25 percent, following a similar move by the U.S. Federal Reserve.

HSBC’s best lending rate in Hong Kong was last changed on Nov 10, 2008, when it was lowered by 25 basis points, the bank said in a statement, adding it would also not change its savings rate for its Hong Kong dollar savings deposits. (Reporting by Sumeet Chatterjee; Editing by Himani Sarkar)

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