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Hong Kong kept the city’s base rate unchanged on Thursday after the US Federal Reserve paused its current cycle of inflation-busting increases to assess the impact of higher funding costs on the world’s economy.

Hong Kong kept its base rate unchanged after the US Federal Reserve skipped its monetary tightening cycle for the second time this year, giving the city's businesses and borrowers breathing room amid a struggling economy. The base rate was kept at 5.75 per cent, the Hong Kong Monetary Authority (HKMA) said before financial markets opened. Hours earlier, the Fed maintained its target rate unchanged at between 5.25 per cent and 5.5 per cent, taking its second recess since the cost of money began r

The United States' recurring government shutdown drama is once again playing out in Washington, D.C., as lawmakers have until the end of the month to come up with a bill to fund the government. If no...

A full, lengthy shutdown of the U.S. government is likely at the end of the month and could leave the Federal Reserve reluctant to raise interest rates in November, analysts at bond giant PIMCO said... -September 19, 2023 at 11:49 am EDT - MarketScreener