HKMA holds base interest rate at 4%, following Fed as war inflation worries persist

Hong Kong’s monetary authority has held its base interest rate steady, following the lead of the US Federal Reserve, as analysts said the inflationary impact of the US-Israel war with Iran had reduced the chances of a rate cut this year. The city’s base rate would stay at 4 per cent, the Hong Kong Monetary Authority (HKMA) said on Thursday, hours after the US Federal Reserve kept its target rate i