HSBC Holdings PLC (HBC) unit Hongkong & Shanghai Banking Corp. said Thursday it decided to maintain its best lending rate at 5.00%.

Its savings rate will also be unchanged.

The move by the major Hong Kong lender came after the Hong Kong Monetary Authority kept its base rate unchanged at 0.50% Thursday, following the overnight decision by the U.S. Federal Open Market Committee to keep the federal funds rate unchanged at zero to 0.25%.

Other major lenders including BOC Hong Kong (Holdings) Ltd. (2388.HK) and Hang Seng Bank Ltd. (0011.HK) are likely to follow HSBC's move.

-By Jackie Cheung, Dow Jones Newswires; 852-2802-7002; jackie.cheung@dowjones.com

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