The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (March 4) that in view of a notification from the General Veterinary Inspectorate of Poland about an outbreak of highly path… read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The United States Federal Reserve’s Federal Open Market Committee (US Fed FOMC) decided last night (March 3, US time) to adjust downward the target range for the US federal funds rate by 50 basis points to 1-1.25 per cent. In light of the Fed’s decision, the Hong Kong Monetary Authority (HKMA) adjusted downward the Base Rate by 50 basis points to 1.50 per cent today (March 4) according to a pre-set formula.
The US Fed said in its statement that the fundamentals of the US economy remained strong, and the rate cut was decided in light of evolving risks of the coronavirus posed to US economic activity and in support of achieving the Fed’s policy goals.
The Chief Executive of the HKMA, Mr Eddie Yue, said, “The US Fed has decided to cut interest rate by 50 basis points outside its scheduled meetings, and stated that it will use its tools and act as appropriate to support the economy. These actions indicate that the Fed would proactively use its monetary policy to mitigate possible economic risks posed by the coronavirus. However, further developments of the coronavirus are still very uncertain and financial markets will continue to see considerable volatility. Investors should manage their risks prudently.
Apart from US dollar interest rates, Hong Kong dollar interest rates will also be influenced by other factors such as domestic funding demand and supply. The HKMA will continue to closely monitor market situation, and maintain orderly operations of Hong Kong’s money and foreign exchange markets. We will also ensure stability of the Hong Kong dollar in accordance with the Linked Exchange Rate System.” read more
The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) announced today (March 4) that the Base Rate was adjusted downward by 50 basis points to 1.50 per cent with … read more
To assist the fisheries industry to tackle the financial difficulties arising from the COVID-19 epidemic, the Government will provide subsidies to owners of fishing vessels or fish collector vessels with Mainland deckhands under the Anti-epidemic Fund.
Details of the subsidies are as follows:
(i) $200,000 for each vessel of 25 meters or above in length; and
(ii) $80,000 for each vessel of less than 25 meters in length.
Application forms can be downloaded from the Agriculture, Fisheries and Conservation Department (AFCD) website (www.afcd.gov.hk/english/whatsnew/what_fis/what_fis.html). The starting date for receiving applications is March 5. Applicants should submit the completed application forms together with copies of the required documents by mail to the Fisheries Enforcement and Special Projects Division of AFCD at 8/F of Cheung Sha Wan Government Offices, 303 Cheung Sha Wan Road, Kowloon; or drop-in boxes at the Aberdeen, Castle Peak, and Shau Kei Wan Wholesale Fish Markets under the Fish Marketing Organization. The deadline for application is April 17. Vessel owners who are not in Hong Kong can authorise an agent to handle their applications.
Subsidies will be disbursed to successful applicants as soon as possible.
For more details, please contact the department at 2150 7100 or 2150 7108, or view the department’s website (www.afcd.gov.hk). read more
Police are investigating a fatal traffic accident in Kwun Tong in the small hours today (March 4) in which a 61-year-old man died. At about 0.35am, a private car driven by the 61-year-old m… read more