HSBC <0005.HK> SAYS TO CUT ITS US DOLLAR SAVINGS RATE TO 0.75% FROM 1.0% EFFECTIVE SEPT 20
HONG KONG, Sept 19 (Reuters) -HSBC Holdings 0005.HK HSBA.L said it was cutting its best lending rate in Hong Kong by 25 basis points to 5.625% from 5.875% effective Sept. 20.
That followed a 50 basis points cut in the base rate charged through the overnight discount window of the city's de facto central bank.
Earlier on Thursday, the Hong Kong Monetary Authority cut the rate to 5.25%, hours after a rate cut of the same magnitude by the U.S. Federal Reserve.
Reporting by Hong Kong newsroom; Editing by Christopher Cushing
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