HKMA's Response to US Fed's Interest Rate Decision
The following is issued on behalf of the Hong Kong Monetary Authority:
The Federal Open Market Committee of the United States Federal Reserve (the Fed) announced early today (March 20, Hong Kong time) after its two-day meeting that it had decided to keep the target range for the federal funds rate unchanged at 4.25-4.5 per cent.
The policy decision is in line with market expectations. The "dot plot" released following the meeting indicated that the Fed might cut rates by a total of 50 basis points before year end. However, in view of recent changes in various economic indicators, as well as the volatility in market expectations, the pace of future rate cuts remains quite uncertain as it is dependent on US inflation and labour market data developments, as well as the impact of fiscal, economic and trade policies adopted by the US government on economic activity.
In Hong Kong, our financial and monetary markets have continued to operate in a smooth and orderly manner. Market liquidity condition has remained stable, and the Hong Kong dollar exchange rate stays steady. Under the Linked Exchange Rate System, Hong Kong dollar interbank rates generally track the US dollar counterparts, while shorter-tenor interbank rates tend to be also influenced by the supply and demand of Hong Kong dollar funding in the local market such as seasonal effects as well as capital market activities.
Interest rates in Hong Kong might still remain at relatively high levels for some time, and the extent and pace of future US interest rate cuts are subject to considerable uncertainty. The public should carefully assess and continue to manage the interest rate risk when making property purchase, mortgage or other borrowing decisions. The HKMA will continue to closely monitor market developments and maintain monetary and financial stability.
Opening ceremony of "Yau Ma Tei Police Station: A Cinematic Journey" exhibition held today
The opening ceremony of the"Yau Ma Tei Police Station: A Cinematic Journey" exhibition, presented by the Cultural and Creative Industries Development Agency under the Culture, Sports and Tourism Bureau, was held at the Old Yau Ma Tei Police Station today (January 1). The exhibition will open to the public from tomorrow (January 2). An admission ticket costs $30, a concessionary ticket costs $10, while admission of children aged six or below is free. Members of the public may book tickets through the online booking system. There is no physical ticket sale onsite.
Officiating at today's opening ceremony were the Deputy Chief Secretary for Administration, Mr Cheuk Wing-hing; the Secretary for Security, Mr Tang Ping-keung; the Secretary for Culture, Sports and Tourism, Miss Rosanna Law; the Commissioner of Police, Mr Chow Yat-ming; the Chairman of the Hong Kong Tourism Board, Dr Peter Lam; and actor Simon Yam.
The "Yau Ma Tei Police Station: A Cinematic Journey" exhibition is one of the major projects of the Government's Working Group on Developing Tourist Hotspots. It is also the second tourist attraction themed around Hong Kong films, following the "Kowloon Walled City: A Cinematic Journey" Movie Set Exhibition opened last year.
Situated at 627 Canton Road, Yau Ma Tei, Kowloon, the Old Yau Ma Tei Police Station is a Grade2 historic building. The exhibition showcases film sets reconstructed by Hong Kong film professionals, collectable items and original pieces, presenting the city's memories of the era portrayed in Hong Kong crime film classics, and allowing visitors to experience Hong Kong's film culture and the unique creativity of local filmmakers.
To coincide with the exhibition and promote district tourism, the Yau Tsim Mong District Office has also launched the Yau Ma Tei Dining and Shopping Festival as well as a Mini Bazaar starting today. Visitors who have visited the exhibition may enjoy a wide range of special offers at participating merchants. The Mini Bazaar, which operates on weekends and public holidays in the initial phase (until March 1), is located opposite the main entrance of the Old Yau Ma Tei Police Station, and sells cultural and creative products as well as local traditional snacks.
For further details of the "Yau Ma Tei Police Station: A Cinematic Journey" exhibition, please visit ymtps.ccidahk.gov.hk.
Opening ceremony of "Yau Ma Tei Police Station: A Cinematic Journey" exhibition held today Source: HKSAR Government Press Releases
Opening ceremony of "Yau Ma Tei Police Station: A Cinematic Journey" exhibition held today Source: HKSAR Government Press Releases
Opening ceremony of "Yau Ma Tei Police Station: A Cinematic Journey" exhibition held today Source: HKSAR Government Press Releases
Opening ceremony of "Yau Ma Tei Police Station: A Cinematic Journey" exhibition held today Source: HKSAR Government Press Releases
Opening ceremony of "Yau Ma Tei Police Station: A Cinematic Journey" exhibition held today Source: HKSAR Government Press Releases
Opening ceremony of "Yau Ma Tei Police Station: A Cinematic Journey" exhibition held today Source: HKSAR Government Press Releases
Opening ceremony of "Yau Ma Tei Police Station: A Cinematic Journey" exhibition held today Source: HKSAR Government Press Releases
