{
  "id": 16976592,
  "title": "Hong Kong holds base rate at 4.25% after US Federal Reserve decision",
  "url": "https://urgent.news/2026/10/28/hong-kong-holds-base-rate-at-4-25-after-us-federal-reserve-decision",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-28T23:09:59.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/banking-finance/article/3372495/hong-kong-holds-base-rate-425-after-us-federal-reserve-decision"
  },
  "original_language": "en",
  "account": "The Hong Kong Monetary Authority (HKMA) declared on Thursday that it would maintain its base rate at 4.25 per cent, shortly after the US Federal Reserve announced a similar decision to keep its benchmark rate steady. As Hong Kong's currency is pegged to the US dollar, the city's de facto central bank frequently mirrors the US Fed's moves. In September, the HKMA raised its key interest rate by 0.25 per cent, the first such increase since 2023, following the Fed's move. The US Federal Open Market Committee (FOMC), chaired by Kevin Warsh, voted to maintain its target range for interest rates between 3.75 per cent and 4 per cent on Wednesday. Market analysts had placed the odds of a rate hike at the meeting at less than 10 per cent. Jenny Zeng, chief investment officer for fixed income at Allianz Global Investors, cautioned that while the Fed's pause might be perceived as a shift, the tightening cycle is not over. She highlighted that inflationary pressures persist due to higher energy prices and strong AI-related investment. Energy costs, particularly petrol prices, have increased significantly in September. The Fed's next meeting is scheduled for early December.",
  "summary": "The Hong Kong Monetary Authority (HKMA) announced on Thursday that it would keep its base rate unchanged at 4.25 per cent, hours after the US Federal Reserve also decided to hold its benchmark rate steady. The city’s de facto central bank often mirrors steps taken by the US Fed as the Hong Kong’s currency is pegged to the US dollar. In September, it followed the Fed in raising its key interest…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
        "outlet": "The Hill",
        "title": "Federal Reserve holds interest rates steady in face of persistent inflation",
        "url": "https://urgent.news/2026/10/28/federal-reserve-holds-interest-rates-steady-in-face-of-persistent",
        "published": "2026-10-28T18:05:47.000Z"
      },
      {
        "outlet": "Ajel English",
        "title": "US Federal Reserve holds interest rates steady at 4.00%",
        "url": "https://urgent.news/2026/10/28/us-federal-reserve-holds-interest-rates-steady-at-4-00",
        "published": "2026-10-28T18:09:11.000Z"
      },
      {
        "outlet": "El Pais English",
        "title": "The Federal Reserve leaves interest rates unchanged less than a week before the midterms",
        "url": "https://urgent.news/2026/10/28/the-federal-reserve-leaves-interest-rates-unchanged-less-than-a-week",
        "published": "2026-10-28T18:24:17.000Z"
      },
      {
        "outlet": "Hindustan Times - World News",
        "title": "US Federal Reserve leaves interest rates unchanged after September hike",
        "url": "https://urgent.news/2026/10/28/us-federal-reserve-leaves-interest-rates-unchanged-after-september",
        "published": "2026-10-28T19:01:09.000Z"
      },
      {
        "outlet": "Times of India",
        "title": "US Federal Reserve keeps rates unchanged, leaves door open to further hikes",
        "url": "https://urgent.news/2026/10/28/us-federal-reserve-keeps-rates-unchanged-leaves-door-open-to-further",
        "published": "2026-10-28T19:09:25.000Z"
      },
      {
        "outlet": "RTHK News - Finance",
        "title": "US Federal Reserve holds rates steady, as expected",
        "url": "https://urgent.news/2026/10/28/us-federal-reserve-holds-rates-steady-as-expected",
        "published": "2026-10-28T21:01:25.000Z"
      },
      {
        "outlet": "CBS News",
        "title": "Federal reserve holds interest rates steady despite high inflation",
        "url": "https://urgent.news/2026/10/28/federal-reserve-holds-interest-rates-steady-despite-high-inflation",
        "published": "2026-10-28T21:36:04.000Z"
      },
      {
        "outlet": "The Mainichi",
        "title": "Federal Reserve keeps rates unchanged despite elevated inflation",
        "url": "https://urgent.news/2026/10/28/federal-reserve-keeps-rates-unchanged-despite-elevated-inflation",
        "published": "2026-10-28T22:34:19.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}