HKMA SAYS RATE CUT WILL PROVIDE SOME ROOM FOR EASING OF LOCAL INTEREST RATES
HONG KONG, Sept 19 (Reuters) -The Hong Kong Monetary Authority (HKMA) said on Thursday that a larger-than-anticipated U.S. interest rate cut will have a positive impact on the economy of the Asia financial centre.
Howard Lee, acting chief executive of the HKMA, was speaking after the city's central bank cut its base rate charged via the overnight discount window by 50 basis points to 5.25%, tracking a move by the U.S. Federal Reserve.
Reporting by Hong Kong newsroom; Editing by Anne Marie Roantree and Kim Coghill
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