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. Last Updated: 07/27/2016

Hong Kong Rates Rise

HONG KONG -- Hong Kong's de facto central bank Wednesday raised a key local interest rate by a quarter point to 6.75 percent, following an overnight rise in U.S. rates.

The Hong Kong Monetary Authority increased the discount rate, at which it lends money overnight to local banks, following a decision on Tuesday by the U.S. Federal Reserve to raise a key rate by a quarter point to minimize the risk of inflation.