Macao's Base Rate of the Discount Window has been lowered by 64 basis points to 0.86 percent, the Monetary Authority of Macao (AMCM) announced here on Monday.
The AMCM said as Macao's pataca is linked to the Hong Kong dollar and the movements of policy rates in the two special administrative regions should be basically consistent, it followed its Hong Kong counterpart to lower the Base Rate of the Discount Window.
The Hong Kong dollar is linked to the U.S. dollar under a similar linked exchange rate system. The Hong Kong Monetary Authority lowered its base rate according to a pre-set formula, in response to the U.S. Federal Reserve lowering the Fed funds rate target range by 100 basis points on Sunday.
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