HONG KONG: INTEREST RATE WILL BE CUT
Article Abstract:
Following the US interest rate cut of 0.5%, the Hong Kong Monetary Authority (HKMA) has lowered the base rate by 50 basis point to 7.5% yesterday. Bankers generally believe the Hong Kong Association of Banks will also lower deposit savings rate by 50 basis points at its meeting today. Banks will also follow to cut the prime rate by 50 basis points. Dao Heng Bank predicts that the rate cut will help consumption and the stock market. Hang Seng Bank believes the US Federal Reserve will cut interest rate by 25 basis points soon, and will cut rate by 1% for the full year. ICBC believes the US will cut interest rate by 1.5% for the whole year of 2001.
Publication Name: Daily Herald (Arlington Heights, IL)
Subject: News, opinion and commentary
ISSN:
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
HONG KONG: TRAVELLERS GO FOR HOLIDAYS
Article Abstract:
According to some official figures, a total of 504,490 people went to China and 364,953 people returned to Hong Kong via Lo Wu cross border checkpoints on 23, 24, 25 December 2000.
Publication Name: Daily Herald (Arlington Heights, IL)
Subject: News, opinion and commentary
ISSN:
Year: 2000
User Contributions:
Comment about this article or add new information about this topic: