Hong Kong’s de facto central bank left its base rate unchanged after a similar move overnight by the US Federal Reserve, leaving borrowers in the city with a longer wait for funding costs to fall. The Hong Kong Monetary Authority (HKMA) announced its decision on Thursday morning to keep the city’s base rate at 4…
Hong Kong banks may not cut their prime rates this year, but local interbank rates will still follow US rates lower, benefiting a majority of borrowers, according to a senior executive of the Hong Kong Monetary Authority (HKMA). Analysts widely expect the US Federal Reserve to cut its key rate by three-quarters of a point…
The Hong Kong Monetary Authority (HKMA) issued requirements on Wednesday for banks to improve their services for elderly customers, as the proportion of the city’s population over the age of 65 increases rapidly. Banks will be required to upgrade their apps to meet the needs of elderly customers, improve branch facilities and ensure that staff…
Hong Kong will sign an accord with Shanghai next week to establish a cross-border gold trade clearing system, a move the financial chief says will bolster the city’s push to become an international gold trading hub. Financial Secretary Paul Chan Mo-po revealed on Sunday that the city and the Shanghai Gold Exchange would sign a…
Following the January 8 shareholder vote that overwhelmingly approved the largest privatisation deal in Hong Kong’s history, many questions remain about the future of Hang Seng Bank, its stakeholders and the broader financial landscape. For Hang Seng Bank’s shareholders, the immediate question is what to do with the HK$106.16 billion (US$13.6 billion) windfall from HSBC…
Veteran Hong Kong lawmakers Starry Lee Wai-king and Ronick Chan Chun-ying have thrown their hats in the ring to be the Legislative Council’s next president, with a vote expected on January 8. Lee and Chan are running to succeed former president Andrew Leung Kwan-yuen, who stepped down after deciding not to seek re-election in the…
The US Federal Reserve under a new chairman in 2026 is expected to press ahead with interest rate cuts of up to 75 basis points, a move that would lower Hong Kong’s interbank-linked loan costs but leave prime lending rates stuck at their historical low, according to analysts. The Fed and the Hong Kong Monetary…
The US Federal Reserve under a new chairman in 2026 is expected to press ahead with interest rate cuts of up to 75 basis points, a move that would lower Hong Kong’s interbank-linked loan costs but leave prime lending rates stuck at their historical low, according to analysts. The Fed and the Hong Kong Monetary…
Newly elected lawmakers should be “representatives of the public” rather than mere commentators, Hong Kong’s leader has said after the swearing-in of all 90 legislators, warning against “soft resistance” and acts that stir conflicts under the guise of critique. Meanwhile, veteran lawmakers Starry Lee Wai-king and Ronick Chan Chun-ying, front-runners for the Legislative Council presidency,…
In the wake of the fire at Wang Fuk Court that devastated seven blocks of the estate in Tai Po on Wednesday, the Hong Kong community has swiftly rallied to support displaced families, with organisations establishing collection points for essential supplies. Here’s where you can offer your donations – in cash or kind – to…