Hong Kong Holds Rate as Fed Signals Inflation Concerns
- HKMA maintains rate at 5.75% following the Fed’s decision
- High borrowing costs add pressures to city’s recovery
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The Hong Kong Monetary Authority followed the Federal Reserve in holding its base rate as US officials signaled fresh concerns about inflation.
The HKMA left rates unchanged at 5.75% Thursday. The decision came after the Fed held interest rates at a two-decade high for the sixth time in a row, a decision expected by all economists surveyed by Bloomberg.