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Story summary
- The Hong Kong Monetary Authority kept its base rate at 4% amid rising interest rate risks tied to the ongoing Middle East conflict.
- This followed the United States Federal Reserve's decision to hold its target rate at 3.5% to 3.75%.
- Hong Kong stocks fell 1.6%, as inflation and oil prices grew.
- Jerome Powell, the Fed Chair, said the conflict complicates rate forecasts, reflecting uncertainty in the economic outlook.
