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5 months ago
StanChart keeps best lending rate at 5.25 percent in Hong Kong
March 16, 2017 / 4:35 AM / 5 months ago

StanChart keeps best lending rate at 5.25 percent in Hong Kong

A Standard Chartered logo at its headquarters is seen through a window with raindrops, in Hong Kong, China August 4, 2016.Tyrone Siu/File Photo

HONG KONG (Reuters) - Standard Chartered (2888.HK) (STAN.L) said on Thursday it would keep its best lending rate unchanged at 5.25 percent in Hong Kong, even after the central bank raised its benchmark interest rate by a quarter point for the second time in three months.

The Hong Kong Monetary Authority earlier on Thursday raised the base rate charged through its overnight discount window by 25 basis points to 1.25 percent, following a similar move by the U.S. Federal Reserve.

HSBC Holdings (0005.HK) (HSBA.L) also said it would maintain its best lending rate at 5 percent in Hong Kong.

Reporting by Sumeet Chatterjee; Editing by Sherry Jacob-Phillips

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