Hong Kong major lenders keep prime rate unchanged

Hong Kong’s major lenders kept their prime rates unchanged on Thursday, after the US Federal Reserve kept the interest rate steady.

The Hongkong and Shanghai Banking Corporation and BOC Hong Kong (2388) maintained their best lending rates at 5 percent, while the rate of Standard Chartered Bank (Hong Kong) stayed the same at 5.25 percent.

The lenders’ Hong Kong dollar savings deposits also remained unchanged. 

The prime rates in the city have been at the current levels since October last year, when local banks trimmed the figures by 0.125 percentage points, cutting back all the hikes since the US raised the interest rate in 2022. 

Most of the Hong Kong interbank offered rates were mixed on Thursday, with the mortgage-linked one-month Hibor inching up to 2.71494 percent.

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