The Hong Kong Monetary Authority announced on the 30th that according to the preset formula, the basic interest rate has been lowered to 4.25%, effective immediately. The Hong Kong Monetary Authority stated that the setting of the base rate is based on two data points, namely the lower limit of the current target range for the US federal funds rate plus 50 basis points, or the average of the 5-day moving average of overnight and one month Hong Kong interbank offered rates, whichever is higher. The Hong Kong Monetary Authority stated that on the 29th local time, the United States lowered the target range for the federal funds rate by 25 basis points. The current lower limit of the target range for the US federal funds rate plus 50 basis points is 4.25%, while the average of the 5-day moving average of overnight and one month Hong Kong interbank offered rates is 3.21%. According to the preset formula, the basic interest rate adjustment is set at 4.25%. The Chief Executive of the Hong Kong Monetary Authority, Yu Weiwen, said that the uncertain magnitude and pace of future interest rate cuts in the United States will also have an impact on the interest rate environment in Hong Kong. The residential property market in Hong Kong has shown stable performance in the past half year, but the real estate market is influenced by many factors such as the economy, employment, and supply and demand. If the United States continues to cut interest rates in the future, under the linked exchange rate system, the Hong Kong dollar interbank offered rate will slowly decline, which will have a certain positive effect on the economy and real estate market. (New Society)