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Hong Kong Government Press Releases (info.gov.hk)·HK·

HKMA's Response to US Fed's Interest Rate Decision

The following is issued on behalf of the Hong Kong Monetary Authority: The Federal Open Market Committee of the United States Federal Reserve (the Fed) announced earlier today (October 29, Hong Kong time) its decision to keep the target range for the federal funds rate unchanged at 3.75-4 per cent. The policy decision is in line with market expectations. The statement released after the meeting indicated that economic activity was expanding at a strong pace and the labour market was stable, but inflation has remained elevated. This reflects that the Committee is watchful over the outlook on inflation, though it may need more time to observe how the data evolves. Hong Kong's monetary and financial markets have continued to operate in an orderly manner. As the noticeable HKD-USD interest rate differential persists, carry trade activities may cause the Hong Kong dollar to gradually ease. That said, the outlook for the Hong Kong dollar and interbank rates can vary due to various factors, such as the market's risk appetite for carry trades, and the supply-demand conditions for Hong Kong dollars which are in turn influenced by capital market activities and other seasonal factors. US inte

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