HSBC: Lowers the prime rate by 0.25% to 5.375%

The Federal Reserve lowered interest rates by 0.25% as the market expected. HSBC announced that starting next Monday (the 11th), it will reduce the Hong Kong dollar prime rate by 0.25%, from an annual rate of 5.625% to 5.375%. HSBC last adjusted the Hong Kong dollar prime rate on September 20th of this year, when it also lowered the rate by 0.25%. At the same time, HSBC also reduced the interest rate for Hong Kong dollar savings accounts by 0.25%. HSBC Hong Kong CEO Helen Wong stated that the decision to lower the Hong Kong dollar lending and deposit rates was based on the Federal Reserve's announcement of another rate cut, considering various factors including the economic and market environment. The bank will continue to closely monitor the external environment and local economic outlook, adjusting rates as necessary