The Hong Kong Monetary Authority/HKMA lowered its base rate by 25 basis points to 2.5 percent on August 1st, 2019. This marked the first rate cut since late 2008, tracking a similar move by the US Federal Reserve as Hong Kong's 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 HIBOR (Hong Kong Interbank Offered Rate), whichever is higher. However, HKMA warned that HIBOR would continue to be influenced by local supply and demand conditions and may not immediately follow the move in LIBOR. Also, the city's financial market and currency has not been affected by the recent social unrest in the city, added HKMA Chief Executive, Norman Chan. Interest Rate in Hong Kong averaged 3.35 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 2.50 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 2.25 in 12 months time. In the long-term, the Hong Kong Interest Rate is projected to trend around 2.75 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%
2019-08-01 02:00 AM Interest Rate Decision 2.5% 2.75% 2.5%

Hong Kong Money Last Previous Highest Lowest Unit
Interest Rate 2.50 2.75 8.00 0.50 percent [+]
Interbank Rate 2.34 2.33 15.56 0.07 percent [+]
Money Supply M0 482846.00 480947.00 489951.00 8642.00 HKD Million [+]
Money Supply M1 2428901.00 2457570.00 2997256.90 5642.00 HKD Million [+]
Money Supply M2 14536903.00 14522623.00 14642760.00 14225.00 HKD Million [+]
Money Supply M3 14594039.00 14580348.00 14700125.00 138773.00 HKD Million [+]
Foreign Exchange Reserves 448500.00 445700.00 448500.00 38357.00 USD Million [+]
Banks Balance Sheet 24141236.00 23926192.00 24157465.00 307213.00 HKD Million [+]
Loans to Private Sector 10131579.00 10023283.00 10131579.00 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 August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 2.75 8.00 0.50 1998 - 2019 percent Daily

Country Last Previous
Argentina 74.98 Aug/19
Turkey 19.75 Jul/19
Mexico 8.00 Aug/19
Russia 7.25 Jul/19
South Africa 6.50 Aug/19
Brazil 6.00 Jul/19
Indonesia 5.50 Aug/19
India 5.40 Aug/19
China 4.25 Aug/19
Saudi Arabia 2.75 Aug/19
United States 2.25 Jul/19
Singapore 1.94 Jul/19
Canada 1.75 Aug/19
South Korea 1.50 Jul/19
Australia 1.00 Aug/19
United Kingdom 0.75 Aug/19
Euro Area 0.00 Jul/19
France 0.00 Jul/19
Germany 0.00 Jul/19
Italy 0.00 Jul/19
Netherlands 0.00 Jul/19
Spain 0.00 Jul/19
Japan -0.10 Aug/19
Switzerland -0.75 Aug/19