Hong Kong’s central bank lowered its base rate earlier in the morning by 50 basis points after the Federal Reserve’s emergency cut of the same margin on Tuesday. [nL4N2AX061]
The city's monetary policy tracks that of the United States as its currency HKD=D3 is pegged to the greenback.
The bank also said it will not change its savings rate for its Hong Kong dollar savings deposits.
Reporting by Donny Kwok and Noah Sin; Editing by Himani Sarkar