Hong Kong raises interest rates

Hong Kong: Hong Kong’s de facto central bank on Thursday raised its base interest rate after the US Federal Reserve announced its first rate increase in more than nine years in a landmark move signalling the US has finally moved beyond the 2008 crisis.

The decision had repercussions across the global financial system, while imprinting Janet Yellen´s personal stamp on US monetary policy after nearly two years as Fed chair spent plotting to reverse course from the easy-money stance bequeathed by predecessor Ben Bernanke.