Hong Kong's Inland Revenue Department: From December 2, the annual interest rate on tax reserve certificates will be lowered to 0.5500%.
Today (November 29th), the Hong Kong Inland Revenue Department announced that starting from December 2, 2024, the new annual rate for interest on tax reserve certificates will change from the current 0.7167% to 0.5500%.
Lijia Pavilion: The bullish effects of interest rate cuts and market rescue measures are beginning to show immediate results, expecting the year-round decline in Hong Kong's property prices to narrow to 5.88%.
Chen Haichao, head of the research department at Lijia Ge Real Estate, stated that factors such as interest rate cuts and market rescue measures have initially had a bullish impact on the property market, stimulating a slight rebound in housing prices.
Hong Kong Inflation Slows to 1.4% in October Amid Base Effect Dissipation
Hong Kong Consumer Inflation Cools to 1.4% in October, Lowest in Five Months
In October, Hong Kong's CPI rose by 1.4% year-on-year and increased by 2.2% month-on-month.
In October 2024, Hong Kong's overall consumer prices increased by 1.4% compared to the same month last year, which is lower than the corresponding increase in September 2024 (2.2%).
At the end of October, Hong Kong's composite interest rate fell to 2.3%.
The Hong Kong Monetary Authority announced that the comprehensive interest rate reflecting the average funding cost of banks was 2.3% at the end of October, a decrease of 5 basis points from the 2.35% at the end of September. The decrease in the comprehensive interest rate mainly reflects the reduction in the weighted funding cost of deposits within the month.