HONG KONG: The Hong Kong Monetary Authority (HKMA) cut interest rates for the second time this year on Thursday and sought to lower borrowing costs for small businesses, as the economy took a knock from months of anti-government protests and fallout from U.S.-China trade tensions.
HKMA lowered its base rate charged through the overnight discount window by 25 basis points to 2.25%, hours after the U.S. Federal Reserve delivered a rate cut of the same margin.
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