Hong Kong Interest Rate

The benchmark interest rate in Hong Kong was last recorded at 0.50 percent. Interest Rate in Hong Kong is reported by the Hong Kong Monetary Authority. Interest Rate in Hong Kong averaged 3.90 Percent from 1998 until 2014, reaching an all time high of 8 Percent in May of 2000 and a record low of 0.50 Percent in December of 2008. In Hong Kong the interest rates decisions are taken by the Hong Kong Monetary Authority (HKMA). The main interest rate is base rate, adjusted with accordance to the Hong Kong dollar’s demand or supply. This page provides - Hong Kong Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-21

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.50 0.50 8.00 0.50 0.50 | 2014/03 1998 - 2014 Percent Monthly

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Hong Kong Interest Rate
LIST BY COUNTRY

Money Last Previous Highest Lowest Forecast Unit
Interest Rate 0.50 2014-03-31 0.50 8.00 0.50 0.50 2014-03-31 Percent [+]
Foreign Exchange Reserves 316800.00 2014-03-31 315900.00 321000.00 38357.00 317643.19 2014-04-30 USD Million [+]
Interbank Rate 0.37 2014-04-11 0.37 15.56 0.07 0.25 2014-05-31 Percent [+]
Loans to Private Sector 6908393.18 2014-02-28 6696727.00 6908393.18 100529.00 6981194.73 2014-03-31 HKD Million [+]
Money Supply M0 322837.60 2014-02-28 337345.00 337345.00 8642.00 329264.92 2014-03-31 HKD Million [+]
Money Supply M1 1658246.64 2014-02-28 1504818.00 1658246.64 5642.00 1613070.98 2014-03-31 HKD Million [+]
Money Supply M2 10270051.08 2014-02-28 10091002.00 10270051.08 14225.00 10340379.05 2014-03-31 HKD Million [+]
Money Supply M3 10301634.36 2014-02-28 10122232.00 10301634.36 138773.00 10371637.38 2014-03-31 HKD Million [+]
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Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


RELATED NEWS

Hong Kong Trade Deficit Widens 58% YoY in February  
Hong Kong’s trade deficit increased sharply to HKD 53.7 billion in February of 2014 as exports fell by an annual 1.3 percent. Yet, taking January and February as a whole to neutralize the distortion caused by the difference in timing of the Lunar New Year holidays, export performance in the first two months of 2014 was rather sluggish.
Hong Kong Inflation Rate Slows to 9-Month Low  
In February of 2014, Hong Kong’s inflation rate eased to 3.9 percent, down from 4.6 percent in the previous month. The smaller increase was mainly due to the difference in the timing of the Lunar New Year, which fell in late January and early February this year but in mid-February last year, resulting in smaller increase in prices for package tours and meals bought away from home. Cost of private housing rentals also slowed.
Hong Kong Unemployment Rate Stable at 3.1%  
In the period December of 2013 - February of 2014, Hong Kong jobless rate remained unchanged at a 16-year low 3.1 percent. Total employment declined from its historic high, as business activities returned to a more normal level after its peak in Lunar New Year.
Hong Kong Economy Advances 1.1% QoQ in Q4  
In the fourth quarter of 2013, Hong Kong’s GDP expanded at its fastest pace in the last four quarters at 1.1 percent on a quarter-on-quarter seasonally adjusted basis
Hong Kong GDP Growth Accelerates in Q4  
In the fourth quarter of 2013, Hong Kong's economy expanded at a faster 3 percent over a year earlier, up from a downward revised 2.8 percent in the previous three-month period. In 2014, the economy is expected to grow between 3 to 4 percent, better than a 2.9 percent expansion in 2013.
Hong Kong Trade Deficit Narrows Sharply in January  
In January of 2014, Hong Kong’s trade deficit decreased 63 percent over a month earlier to HKD 19.8 billion, due to a fall in imports. A year earlier the trade deficit reached HKD 27.5 billion, as the Chinese New Year fell in late January and early February in 2014 but in mid-February in 2013.
Hong Kong Inflation Rate Accelerates in January  
In January of 2014, Hong Kong’s annual inflation rate rose 4.6 percent, the highest rate in the last four months, due mainly to the difference in timing of the Lunar New Year, which fell in late January and early February this year, but in mid-February last year.
Hong Kong Unemployment Rate Edges Down in January  
The seasonally adjusted unemployment rate decreased from 3.2 percent in October - December 2013 to 3.1 percent in November 2013 - January 2014. It is the lowest jobless rate in almost 16 years, as total employment hit a fresh new high due to the Lunar New Year, while the number of unemployed persons declined for the fifth consecutive month.
Hong Kong Trade Deficit Widens in December  
In December of 2013, Hong Kong trade deficit increased to HKD 54.4 billion, as exports were unchanged from a year earlier and imports rose 1.8 percent. For 2013 as a whole, a visible trade deficit of HKD 501.0 billion, equivalent to 12.3 percent of the value of imports of goods was recorded.
Hong Kong Inflation Rate Unchanged in December  
In December of 2013, Hong Kong annual inflation rate remained unchanged at 4.3 percent for the second straight month. Netting out the effects of all Government's one-off relief measures, the underlying inflation rate was 3.9 percent, slightly lower than 4 percent in November, mainly due to small price increases of fresh vegetables.
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LATEST NEWS

Japanese Trade Deficit Widens in March  
Japan’s trade gap increased to a wider-than-expected ¥ 1446.3 billion in March of 2014, up from a revised ¥ 802.5 billion deficit in the previous month and a ¥ 356.9 billion gap a year earlier, as energy imports continued to rise.
Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
Russia Unemployment Drops in March  
Russian jobless rate fell for the first time in four months to 5.4 percent, after remaining stable at 5.6 percent in the previous two months.
Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
Brazil Unemployment Rate Down to 5%  
In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.
Dutch Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Netherlands’ seasonally adjusted jobless rate fell to 8.7 percent from 8.8 percent in the previous month and 8.1 percent a year earlier, as more people left permanently the labor market rather than found jobs.
Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.
Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
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