People wearing face masks walk by the Hong Kong Monetary Authority on March 4, 2020 in Hong Kong.
HKMA said the U.S. interest rate cut will have a positive impact on the economy of the Asia financial center and will provide some room for easing of local interest rates.
"In Hong Kong, our financial and monetary markets have continued to operate in a smooth and orderly manner.
"The rate cut cycle has just begun, interest rates will remain at relatively high level in the foreseeble future.
The public should carefully assess and continue to manage the interest rate risk when making property purchase, mortgage or other lending decisions," Lee added.
Persons:
HKMA, Howard Lee, Lee
Organizations:
Hong Kong Monetary Authority, Hong, HK, U.S ., U.S . Federal Reserve, Hong Kong
Locations:
Hong Kong, United States, U.S, Asia