US local time on March 21, the Fed announced the rate hike PCT, raised the federal funds rate range for the PCT to PCT, and maintain interest rates three times this year's forecast unchanged。   Federal Reserve Chairman Powell said that the current US economic growth is moderate, strong employment growth, short-term risk facing the economy as a whole seems to be broadly balanced, inflation is expected to rise to close to the target level of 2%, medium-term will continue to stabilize near that level。 Thus, on the one hand to maintain the Fed to raise interest rates this year to predict the number of times the same, on the other hand is expected in 2019 and 2020 respectively, will raise interest rates three times and twice。
  After the hike the United States, according to the linked exchange rate system, the Hong Kong Monetary Authority 22 announced the basic interest rate by 25 basis points to PCT according to pre-set formula, with immediate effect。 This base rate is applicable to the calculation of repurchase transactions through the discount window base rate discount rate, the current prime rate in Hong Kong is scheduled for the current US federal funds rate target range lower limit plus 50 basis points, or overnight and one-month Hong Kong Interbank average interbank moving average of five days, whichever is higher。
  Norman Chan said that although Hong Kong interbank interest rates and deposit and lending rates did not follow US interest rates, but the normalization of interest rates will happen in Hong Kong, the market is expected to remain low long-term interest of Hong Kong would not be appropriate environment。   Norman Chan pointed out that after the rate hike USA, Hong Kong and the US spreads widened, and therefore have a greater incentive to interest arbitrage trading, short-term Hong Kong exchange will soon hit the weak-side Convertibility Undertaking, the HKMA will sell dollars to buy the Hong Kong dollar, Hong Kong dollar interest rate normalization Provide the basis。 And when interbank interest rates rise, the system will increase the cost of funds banks in Hong Kong, the bank will consider raising or deposit and lending rates, the prime rate in Hong Kong will rise。
  "The current interest rate is located in Hong Kong, abnormal low levels, normalization of interest rates will be conducive to the sustained and healthy development of our economy, the property market despite rising mortgage rates have pressure, but overall normalization of interest rates can be more healthy property market。
"Said Norman Chan。
  In addition, the reporter 22 learned from the Monetary Authority of Macao, the discount window base rate raised by 25 basis points to 22% from。
  Monetary Authority of Macao said that as the pataca and Hong Kong dollar linked, in order to maintain the effective operation of the linked exchange rate system in Hong Kong and Macao, the two policy interest rate changes must be consistent。
Therefore, the Monetary Authority of Macao to follow the Hong Kong Monetary Authority raised its base rate synchronous by 25 basis points。