March 16, 2020 / 12:12 AM / 16 days ago

Hong Kong's central bank cuts base rate to 0.86% after Fed move

HONG KONG, March 16 (Reuters) - The Hong Kong Monetary Authority (HKMA) lowered its base rate charged through the overnight discount window to 0.86% on Monday, after the U.S. Federal Reserve delivered a rate cut.

HKMA earlier this month lowered its base rate to 1.5% tracking the rate cut by the Fed.

Hong Kong's monetary policy moves in lock-step with the United States as the city's currency is pegged to the greenback at a tight range of 7.75-7.85 per dollar. (Reporting by Donny Kwok; Editing by Himani Sarkar)

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