HSBC: Lowers the prime rate by 0.25% to 5.375%
The Federal Reserve lowered interest rates by 0.25% as the market expected. HSBC announced that starting next Monday (the 11th), it will reduce the Hong Kong dollar prime rate by 0.25%, from an annual rate of 5.625% to 5.375%. HSBC last adjusted the Hong Kong dollar prime rate on September 20th of this year, when it also lowered the rate by 0.25%. At the same time, HSBC also reduced the interest rate for Hong Kong dollar savings accounts by 0.25%. HSBC Hong Kong CEO Helen Wong stated that the decision to lower the Hong Kong dollar lending and deposit rates was based on the Federal Reserve's announcement of another rate cut, considering various factors including the economic and market environment. The bank will continue to closely monitor the external environment and local economic outlook, adjusting rates as necessary
According to the Zhitong Finance APP, the Federal Reserve has lowered interest rates by 0.25% as the market expected. HSBC announced that starting next Monday (11th), it will reduce the Hong Kong dollar prime rate by 0.25%, from an annual rate of 5.625% to 5.375%. HSBC last adjusted the Hong Kong dollar prime rate on September 20th of this year, when it also lowered the rate by 0.25%. At the same time, HSBC has also reduced the interest rate for Hong Kong dollar savings accounts by 0.25%.
HSBC Hong Kong CEO Lin Huihong stated that based on the Federal Reserve's announcement of another rate cut and considering various factors, including the economic and market environment, the decision was made to lower the Hong Kong dollar deposit and loan rates. The bank will continue to closely monitor the external environment and local economic outlook, and will adjust rates as necessary