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Hong Kong banks raise interest rates
(Xinhua)
Updated: 2005-12-15 15:34
Hong Kong banks Wednesday declared to increase their prime lending rate by
25-basis points, following a similar overnight move in the United States.
It has pushed local lending rates to a four-year high.
From Thursday, HSBC, Hang Seng Bank and Bank of China will raise their
lending rates to 7.75-percent, while the Bank of East Asia and Standard
Chartered will charge 8-percent.
The US Federal Reserve said on Tuesday that it decided to raisethe short-term
interest rate by another one quarter percentage point to 4.25 percent, the
highest level since April 2001.
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