HKMA warns of longer period of high HK dollar interbank rates 

The central bank said it remains 'uncertain' when the US Fed will cut rates.

The Hong Kong Monetary Authority (HKMA) said Hong Kong dollar interbank rates might remain high for some time.

The central bank issued the statement after the US Fed decided to keep the target range for the federal funds rate unchanged at 5.25% to 5.5%.

"The Fed’s future interest rate decisions will be based on incoming data, the evolving outlook, and the balance of risks.  It is still uncertain when the Fed will begin to cut rates and the high interest rate environment may last longer," the HKMA said.

HKMA advised the public to assess and manage risks when making property purchases, mortgages, or other borrowing decisions.