HKMA keeps rate unchanged as new Fed chair holds steady, but a rise is expected this year (opens original article in a new tab)

HKMA kept interest rates unchanged following the Fed's steady policy, with expectations of a rate increase later this year due to inflation concerns.

• HKMA kept base rate at 4% unchanged
• Fed maintained target range at 3.5%-3.75%
• US S&P 500 fell 1.2% after Fed projections indicated potential rate rise this year