The Hong Kong Monetary Authority raised its base rate by 25 basis points to 2.75 percent on December 20th, 2018, tracking a similar move by the US Federal Reserve as its currency is pegged to the US dollar. The central bank sets its base rate through a formula that is 50 basis points above the prevailing US Fed Funds Target or the average of the five-day moving averages of the overnight and one-month HIBORS (Hong Kong Interbank Offered Rate), whichever is higher. Regarding increasing downside risks to the economy from ongoing trade row between China and the US, the monetary authority urged residents to remain vigilant for possible market volatility after US interest rate hikes. Interest Rate in Hong Kong averaged 3.36 percent from 1998 until 2019, reaching an all time high of 8 percent in May of 2000 and a record low of 0.50 percent in December of 2008.

Interest Rate in Hong Kong is expected to be 2.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Hong Kong to stand at 2.75 in 12 months time. In the long-term, the Hong Kong Interest Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.

Hong Kong Interest Rate
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-20 01:30 AM Interest Rate Decision 2.75% 2.5% 2.75%

Hong Kong Money Last Previous Highest Lowest Unit
Interest Rate 2.75 2.75 8.00 0.50 percent [+]
Interbank Rate 1.71 1.72 15.56 0.07 percent [+]
Money Supply M0 466539.00 461934.00 467038.85 8642.00 HKD Million [+]
Money Supply M1 2421598.00 2450459.00 2997256.90 5642.00 HKD Million [+]
Money Supply M2 14348059.00 14138972.00 14348181.20 14225.00 HKD Million [+]
Money Supply M3 14403688.00 14195165.00 14403688.00 138773.00 HKD Million [+]
Foreign Exchange Reserves 432000.00 424700.00 443400.00 38357.00 USD Million [+]
Banks Balance Sheet 24042608.00 23938136.00 24042608.00 307213.00 HKD Million [+]
Loans to Private Sector 9722623.00 9686738.00 9969722.17 100529.00 HKD Million [+]

Hong Kong Interest Rate

In Hong Kong the interest rates decisions are taken by the Hong Kong Monetary Authority (HKMA). The main interest rate is Base rate, adjusted with accordance to the Hong Kong dollar’s demand or supply. This page provides the latest reported value for - Hong Kong Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Interest Rate - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.75 2.75 8.00 0.50 1998 - 2019 percent Daily

Country Last Previous
Argentina 44.21 Feb/19
Turkey 24.00 Jan/19
Mexico 8.25 Feb/19
Russia 7.75 Feb/19
South Africa 6.75 Jan/19
Brazil 6.50 Feb/19
India 6.25 Feb/19
Indonesia 6.00 Jan/19
China 4.35 Jan/19
Saudi Arabia 3.00 Jan/19
United States 2.50 Jan/19
Singapore 1.90 Jan/19
Canada 1.75 Jan/19
South Korea 1.75 Jan/19
Australia 1.50 Jan/19
United Kingdom 0.75 Feb/19
Euro Area 0.00 Jan/19
France 0.00 Jan/19
Germany 0.00 Jan/19
Italy 0.00 Jan/19
Netherlands 0.00 Jan/19
Spain 0.00 Jan/19
Japan -0.10 Jan/19
Switzerland -0.75 Jan/19