The Hongkong and Shanghai Banking Corporation announced that it will keep its best lending rate unchamged at 5 percent although the Hong Kong Monetary Authority slashed the base rate rate by 64 basis points to 0.86 percent in the morning. The best lending rate was last changed on November 1, when it was cut by 12.5 basis points, the bank said. It will also not change the savings rate for its Hong Kong dollar savings deposits. HSBC’s bonus interest rate for total relationship balances of HK$1 million and above remains at 0.001 percent.

Source: The Standard March 16, 2020 06:54 UTC