HSBC, one of the banks in Hong Kong that issues banknotes, raised the Hong Kong Dollars (HKD) prime rate by 0.125 percent on Sept. 23. The raise came after the Federal Reserve (Fed) announced a 0.75 percent rate increase in the federal funds at midnight on Sept. 22. The rate hike signifies Hong Kong has…
Hong Kong Enters Economic Winter as the US Again Raises Interest Rate
October 1, 2022
admin
Asia & PacificBusiness & MarketsChinaChina Business & EconomyeconomyFederal Reserve (Fed)HK BusinessHK Current AffairsHong KongHong Kong Monetary AuthorityinflationNouriel RoubiniWorld
0 Comment
Hong Kong’s Central Bank Pours In Cash to Stabilize Its Pegged Currency, Higher Mortgage Rates Ensued
On Aug. 5, Hong Kong’s central bank bought the largest amount of its currency in one day since May 12—HK$14.161 billion (about $1.80 billion)—to stop it from weakening further and breaking its peg to the U.S. dollar. On July 28, after the U.S. Federal Reserve announced a rate hike of 75 basis points, the Hong…
Stabilizing Currency Peg to US Dollar May Be Too Costly for Hong Kong This Time: Expert
July 31, 2022
admin
Asia & PacificBusiness & MarketsChinaeconomyFederal Reserveforeign currency reservesHK BusinessHK Current AffairsHKMAHong KongHong Kong Monetary Authorityinterest rateMarketsmonetary policyUSDWorld
0 Comment
Hong Kong’s central bank has spent over $22 billion in ten weeks to stabilize the exchange rate of the Hong Kong dollar (HKD) amid weakening market confidence in the city’s currency. Since May 2022, the Hong Kong Monetary Authority (HKMA), the city’s central bank, has bought HKDs at its fastest pace to keep the U.S….
Currency Swap Is Hong Kong Giving CCP Access to US$120 Billion for Free
Hong Kong Monetary Authority (HKMA) announced on July 4, 2022, that it would optimize the currency swap with the People’s Bank of China (PBOC). Financial experts analyzed the Chinese Communist Party (CCP) trade as handing over US$120 billion to the CCP on a silver platter. Politics Commentator, Gordon Poon Tung-hoi, mentioned in an interview with…
Hong Kong and China Upgrade Currency Swap Line, Allowing Beijing Access to Foreign Currency Reserves
July 13, 2022
admin
central banksChinaChina Business & Economycurrency swap lineforeign currency reservesHK BusinessHKMAHong KongHong Kong Monetary Authoritythe people's bank of chinayuan
0 Comment
Nearly 30 percent of Hong Kong’s foreign currency reserves are now accessible to Beijing after the People’s Bank of China (PBC) and Hong Kong Monetary Authority (HKMA) upgraded their currency swap line on July 4. Upgrading the currency swap line to a standing arrangement was one of two new policies announced by the PBC and…
Hong Kong Monetary Authority Steps in to Defend Its Weak Currency Amid Capital Outflow
May 21, 2022
admin
capital outflowChinaHK BusinessHK Current AffairsHong KongHong Kong Monetary Authoritymonetary policy
0 Comment
The Hong Kong dollar continues to weaken as the United States starts its interest rate hike cycle. To maintain Hong Kong’s linked exchange rate system, the Hong Kong Monetary Authority (HKMA) made five purchases of HK$17.586 billion ($2.24 billion) in five days. Market participants expect that Hong Kong may have a net outflow of $100…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`