Hong Kong central bank leaves interest rate unchanged, tracking Fed move

The Hong Kong Monetary Authority (HKMA) on Thursday left its base rate charged through the overnight discount window unchanged at 5.75%, tracking a move by the U.S. Federal Reserve to keep rates steady. The U.S. central bank held interest rates steady on Wednesday as policymakers paused its aggressive tightening of monetary policy to consider if conditions were restrictive enough to tame inflation. HKMA said it is premature to conclude whether the U.S. rate hike cycle has been completed, and the high interest-rate environment is likely to last for some time.