Hong Kong’s monetary policy moves in lock-step with the U.S. as the city’s currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar.
The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks.
The Federal Open Market Committee policy statement also said the U.S. banking system is “sound and resilient”.
Source: Economy - investing.com
