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-HSBC leaves prime lending rate steady in HK.

Global Banking News-August 12, 2011--HSBC leaves prime lending rate steady in HK(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 12 August 2011

Hongkong & Shanghai Banking Corporation (HSBC), a unit of HSBC Holdings Plc (LSE: HSBA) (NYSE: HBC) (HKG: 0005), has said that it is leaving its prime lending rate in Hong Kong steady at 5 percent, unchanged since November 2008.

The bank has also left its savings rates unchanged. The move comes after the US Federal Reserve's overnight decision to leave its official interest rates unchanged in a range of zero to 0.25 percent.

The Hong Kong Monetary Authority, the city's de facto central bank, has said that it has kept its base rate at 0.50 percent.

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Publication:Global Banking News (GBN)
Date:Aug 12, 2011
Words:144
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