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Banks in Hong Kong end an era of cheap funds

Updated: 27 Sep. 2018 | 06:23

HSBC has raised the prime rate in Hong Kong for the first time in 12 years, taking cues from the Hong Kong Monetary Authority (HKMA) in ending an era of cheap funds.

The commercial bank has pushed up rates by 12.5 basis points to 5.125 percent.

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