Macau's monetary authority raises discount window base rate by 75 bps to 4.25%
FILE PHOTO: People stand on a pedestrian bridge as the Venetian Macao Resort Hotel and Galaxy Macau resort are seen at night in Macau, China December 20, 2019, on the 20th anniversary of the former Portuguese colony's return to China. REUTERS/Jason
The Monetary Authority of Macao said on Thursday it raised the base rate for the discount window by 75 basis points to 4.25 per cent, hours after Hong Kong lifted a similar rate by the same margin in the wake of higher U.S. interest rates.
As Macau's pataca currency is linked to the Hong Kong dollar, the movements of policy rates in Hong Kong and Macau should be basically consistent in order to maintain the effective operation of the linked exchange rate system, the authority said.
Source: Reuters
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