FINWIRES · TerminalLIVE
FINWIRES

Hong Kong Leaves Base Rate Unchanged

By

The Hong Kong Monetary Authority (HKMA) kept its base rate unchanged at 4%, in line with the U.S. Federal Reserve's decision to hold its benchmark rate steady, according to a Thursday statement.

The Fed maintained its target range for the federal funds rate at 3.5% to 3.75% following its latest Federal Open Market Committee meeting.

The HKMA noted that future U.S. interest rate moves will depend on inflation, labor market conditions and other economic data. It urged the public to carefully manage interest rate risks when making property purchase, investment or borrowing decisions.

Related Articles

International

Singapore Export Prices Rise 12.7 in June, Import Prices Up 13.6%

Singapore's export prices rose 12.7% year over year in June, according to data from the Singapore Department of Statistics on Wednesday.The latest pace of expansion eased from the 14.6% rise in May, missing the 13.7% growth forecast by Trading Economics.Meanwhile, import prices edged up 13.6% year over year, slowing from the 18.5% increase in May.

^STI
International

Singapore's Producer Price Inflation Slows in June

Factory-gate prices in Singapore were mixed in June, with the Domestic Supply Price Index rising 30.3% year over year, while the Singapore Manufactured Products Price Index increased 31.1%, according to the Singapore Department of Statistics on Wednesday.The Domestic Supply Price Index growth eased from the 34.1% increase logged in May, and missed the Trading Economics forecast for a 33% increase.The Manufactured Products Price Index expansion accelerated from the 30.9% growth recorded in May.On a month-on-month basis, the Domestic Supply Price Index fell 2.5% in June after declining 2.0% in May, while the Singapore Manufactured Products Price Index slipped 0.7%, extending the 0.2% decline recorded in May.

^STI
International

Australia's Inflation Increases 3.8% in Year to June

Australia's consumer price index (CPI) rose 3.8% in the 12 months to June from a 4% increase in the year to May, the Australian Bureau of Statistics reported Wednesday.The largest contributor to annual inflation was housing, which rose 6.8%, followed by food and non-alcoholic beverages and recreation and culture, both up 3.3%.Annual housing inflation was primarily driven by rising costs for electricity and new dwellings.Electricity remains a major driver of annual inflation, with prices over 22% higher than a year ago, largely due to the end of government rebates that had previously lowered household electricity bills, said Rachael McCririck, the bureau's head of prices statistics.Trimmed mean annual inflation was 3.6% in the 12 months to June, unchanged from the 12 months to May.Transport inflation eased notably, with the annual rate slowing to a 0.1% increase, compared with a 3.3% rise in May."Lower world oil prices as a result of some stabilization in the Middle East in June contributed to fuel prices falling 10.9% in the month," McCririck added.The CPI declined by 0.1% in seasonally adjusted terms during the month of June.

ASX 200