HSBC Leaves Hong Kong Dollar Prime Lending Rate Unchanged At 5.00%
29 Janvier 2009 - 9:22AM
Dow Jones News
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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