HONG KONG -(Dow Jones)- HSBC Holdings PLC (HBC) unit Hongkong & Shanghai Banking Corp. said Thursday it left its best lending rate unchanged at 5.00%.
It also said it left its savings rates unchanged.
The decision came after the U.S. Federal Reserve kept its official interest rates unchanged overnight. The Hong Kong Monetary Authority followed suit Thursday.
Hong Kong's currency peg to the U.S. dollar bolts its monetary policy to that of the U.S., so the HKMA generally follows any interest rate adjustments by the Fed. Hong Kong banks usually follow interest rate moves by the HKMA, but aren't required to do so.
-By Chester Yung, Dow Jones Newswires; 852-2802-7002; chester.yung@dowjones.com