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UPDATE 1-Hong Kong's central bank raises base rate 25 bps after Fed...

reuters.com
UPDATE 1-Hong Kong's central bank raises base rate 25 bps after Fed...

(Add details) * HKMA raises discount window rate to 2.25 pct from 2.00 pct * Fed projects two more rate rises this year, three hike next year HONG KONG, June 14 (Reuters) - The Hong Kong Monetary Authority (HKMA) raised the base rate charged through its overnight discount window by 25 basis points on Thursday to 2.25 percent after the U.S Federal Reserve raised interest rates by a quarter of a percentage point. Hong Kong tracks U.S. rate moves because its currency is pegged to the U.S. dollar. The Hong Kong dollar has repeatedly hit the lower end of its trading band in April and May. The HKMA had mopped up a total HK$70.35 billion of Hong Kong dollars from the foreign exchange market since April