BUSINESSSCMP CHINA
HKMA keeps base rate at 4% as US market slumps, fears the Fed is losing inflation fight
Hong Kong’s monetary authority (HKMA) maintained its base rate at 4% following the US Federal Reserve’s decision to keep its key rate unchanged. The US stock market slumped, with the Dow Jones falling 1,152 points, as concerns grew over the Fed’s ability to control inflation.
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