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Hong Kong's major banks maintained their prime rates unchanged on Thursday, despite the Federal Reserve's 25 basis point interest rate hike, temporarily sparing the property market from direct impact.
Despite the Federal Reserve raising its benchmark interest rate by 25 basis points on Wednesday (ET), HSBC and other major Hong Kong banks on Thursday opted to keep their prime rates unchanged, temporarily shielding the Hong Kong property market from direct impact. However, industry insiders noted that further rate hikes in the future could puncture the market's relatively fragile recovery.
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