The Hong Kong Monetary Authority (HKMA) on Thursday said it expects the high interest rate environment to continue for some time, after the US Federal Reserve kept rates unchanged at 5.25 to 5.5 percent.

The HKMA said it is premature to conclude whether the rate hike cycle has been completed.

"The financial and monetary markets of Hong Kong continue to operate in a smooth and orderly manner. The Hong Kong dollar exchange rate remains stable, and the Hong Kong dollar interbank rates might remain high for some time," it wrote in a statement.

"The public should carefully assess and manage the relevant risks when making property purchase, mortgage or other borrowing decisions."

Leading local banks HSBC, Standard Chartered and Bank of China (Hong Kong) on Thursday said they're keeping their interest rates unchanged.

The best lending rates at HSBC and BOC Hong Kong remain at 5.875 percent, while it's 6.125 percent at Standard Chartered.
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Last updated: 2023-09-21 HKT 16:31