HSBC raising best lending rate to 5.375% after Hong Kong rate hike

Reuters

HONG KONG (Reuters) – HSBC Holdings said on Thursday it is raising its best lending rate in Hong Kong by 25 basis points to 5.375% effective Nov. 4 after the city’s de facto central bank raised the base rate charged through its overnight discount window by 75 basis points.

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The Hong Kong Monetary Authority earlier on Thursday raised the base rate charged through its overnight discount window to 4.25% from 3.50%.

(Reporting by Donny Kwok; Editing by Muralikumar Anantharaman)

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