HONG KONG, Sept 21 Reuters The Hong Kong Monetary Authority HKMA on Thursday left its base rate charged through the overnight discount window unchanged at 5.75, tracking a decision by the U.S. Federal Reserve to keep rates steady.

The U.S. central bank held interest rates steady as expected at the end of a twoday policy meeting but projected another rate hike by year end and monetary policy significantly tighter through 2024 than previously expected.

Hong Kong39;s monetary policy moves in lockstep with the United States as the city39;s currency is pegged to the greenback in a tight range of 7.757.85 per dollar.

HSBC Holdings also said it will keep its best lending rate in Hong Kong unchanged at 5.875.

HKMA said it is premature to conclude whether the U.S. rate hike cycle has been completed while the high interest rate environment is likely to last for some time.

The financial and monetary markets of Hong Kong continue to operate in a smooth and orderly manner, HKMA said, adding the Hong Kong dollar exchange rate remains stable and the Hong Kong dollar interbank rates might remain high for some time.

Reporting by Donny Kwok; Editing by Anne Marie Roantree, Christian Schmollinger and Kim Coghill

Source Reuters