HSBC to cut best lending rate in Hong Kong by 25 bps to 5.625%

HONG KONG : HSBC Holdings said it was cutting its best lending rate in Hong Kong by 25 basis points to 5.625 per cent from 5.875 per cent effective Sept. 20.
That followed a 50 basis points cut in the base rate charged through the overnight discount window of the city’s de facto central bank.
Earlier on Thursday, the Hong Kong Monetary Authority cut the rate to 5.25 per cent, hours after a rate cut of the same magnitude by the U.S. Federal Reserve.