HKMA leaves base rate unchanged
The Hong Kong Monetary Authority (HKMA) on Thursday kept its base rate at 5.75 percent, after the US Federal Reserve ended a two-day meeting leaving its key rate unchanged. Overnight, Fed chair Jerome Powell said the first interest rate cut could come as soon as September.  In a statement, the HKMA said “inflation pressure in the US has somewhat abated lately, and the market expects that the easing cycle might begin soon.” But it added that the pace of any easing remains uncertain, and said the interbank offered rate in Hong Kong might stay high for the time being.  “The public should carefully assess and manage the relevant risks when making property purchase, mortgage or other borrowing decisions,” it said in a statement.