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HKMA: Uncertainty Over Future US Rate Path, Impact of Elevated Oil Prices on Inflation Yet to Be Seen
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The Federal Reserve kept the target range for the federal funds rate unchanged at 3.5% to 3.75%. The Hong Kong Monetary Authority (HKMA) said the Fed's decision to hold rates steady was in line with market expectations. The market generally believes there is considerable uncertainty over the future direction of US monetary policy, which will depend on inflation trends and labor market conditions. In particular, persistent tensions in the Middle East have kept oil prices elevated, and their impact on US inflation remains to be observed. In Hong Kong, the HKMA said monetary and financial markets have continued to operate in an orderly manner. Under the Linked Exchange Rate System, Hong Kong Interbank Offered Rates generally track US interest rates, while shorter-tenor interbank rates are also influenced by local Hong Kong dollar funding supply and demand, such as seasonal factors and capital market activities. The HKMA noted that uncertainty over the future US rate path will also affect Hong Kong's interest rate environment. The public should fully consider and manage interest rate risks when making property purchase, investment or borrowing decisions. The HKMA will continue to closely monitor market developments to maintain monetary and financial stability. (ha/j) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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