HKMA urges vigilance on rates

The Hong Kong Monetary Authority on Thursday advised local businesses and individuals to be vigilant about the increasing likelihood of an interest rate hike in the United States before the end of the year.

A HKMA spokesperson said that although the US Federal Reserve decided to leave short-term interest rates unchanged on Wednesday, there was a fairly high chance of a rate increase in December.

Local investors are expecting the HKMA to take a lead and raise local interest rates once the US Federal Reserve has decided to raise its own interest rates.