Base rate raised to 5.75%

The Monetary Authority today announced that it has increased the base rate to 5.75% with immediate effect.

The increase followed the 25-basis point upward shift in the target range for the US federal funds rate on July 26.

The base rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed.

Date: 2023.07.27

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