The Hong Kong Monetary Authority (HKMA) raised the base lending rate on Thursday by 25 basis points to 1.75%, matching the widely anticipated move by the US Federal Reserve overnight.
The HKMA follows U.S. monetary policy decisions as the Hong Kong dollar is pegged to the U.S. dollar.
Hong Kong's property market has been on fire thanks to the availability of cheap funding, and the prospect of higher mortgage rates prompted a warning from HKMA chief executive Norman Chan Tak-lam, reports The South China Morning Post :
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
