Hong Kong’s biggest lender HSBC will keep its key lending and deposit rates unchanged, meaning local businesses and mortgage borrowers will have a longer wait for the cost of borrowing to decline.
Hong Kong kept its key interest rate unchanged for a sixth consecutive time in lockstep with the Federal Reserve’s overnight decision, with sticky US inflation forcing investors to delay rate cut bets.
The Hong Kong Monetary Authority’s SME information platform is part of its ongoing efforts to help SMEs affected by the shift in consumer and tourist spending patterns.
Qianhai’s tax incentives are among measures that have attracted major Hong Kong banks to invest in grade-A office buildings, and to develop a wide range of banking, securities and insurance businesses in the area.