Major banks hold prime rates unchanged

The Hongkong and Shanghai Banking Corporation keeps prime rate unchanged at 5.25 percent, following the hold of US Federal Reserve.

The major local lender lowered the rate associated with mortgage loans by 0.125 percentage points in December.

HSBC also maintained the interest rates for Hong Kong dollar deposit accounts.

BOC Hong Kong (2388) and Hang Seng Bank (0011) also hold their prime rate at 5.25 percent. Standard Chartered Hong Kong's rate stayed at 5.5 percent.

The Fed announced in the early hours of Hong Kong time last Thursday that it kept interest rates unchanged, with the target range for the federal funds rate remaining at 4.25 percent to 4.5 percent, ending the rate cut streak at the previous three meetings.

STAFF REPORTER