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HKMA: US Inflation Has Not Given Fed Enough Confidence to Cut Rates; High Rates May Last for Some Time
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The Federal Open Market Committee of the US Federal Reserve announced that it had decided to keep the target range for the federal funds rate unchanged at 5.25-5.5%. HKMA noted that the Fed’s future interest rate decisions will be dependent on incoming data, the evolving outlook and the balance of risks, and believed the Fed has not yet gained enough confidence about the US inflation trajectory to start cutting interest rates. The high interest rate environment may last for some time. HKMA stated that the financial and monetary markets of Hong Kong continue to operate in a smooth and orderly manner. HKD exchange rates remained stable, and the HKD interbank rates might remain high for some time. HKMA suggested the public to carefully assess and manage the relevant risks when making property purchases, mortgages or other borrowing decisions. The HKMA will continue to closely monitor market developments and maintain monetary and financial stability. AAStocks Financial News |
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