HSBC Cuts Hong Kong Dollar Prime Lending Rate To 5.00% Vs 5.25%
Friday November 7th, 2008 / 6h01
HONG KONG -(Dow Jones)- HSBC Holdings PLC (HBC) unit Hongkong & Shanghai Banking Corp. said Friday it cut its best lending rate by 25 basis points to 5.00%. HSBC said it will keep its savings rates on hold. The new rate will take effect Monday. The decision comes after a sharp fall in Hong Kong interbank offered rates this week and earlier interest rate cuts by the U.S. Federal Reserve. -By Jackie Cheung, Dow Jones Newswires; 852-2802-7002; raymond.tsoi@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=yaK%2B9URUjz2GfabgsG5QBg%3D%3D. You can use this link on the day this article is published and the following day.
