# Hong Kong Monetary Authority - Statement by Norman T. L. Chan, Chief Executive of the Hong Kong Monetary Authority to the media on 15 December 2016 (Abridged version)

> Hong Kong Monetary Authority chief Norman Chan said the FOMC raised the Fed funds rate by 25 basis points as expected. He cited the tightening labour market, rising energy and commodity prices, and incoming US fiscal policy as sources of uncertainty over the pace of future US rate increases.

- Date: 2016-12-01 · published 2016-12-01T12:00:00.000Z
- Category: macro · region Hong Kong · magnitude low
- Page: https://feedsoft.ai/events/73370-hong-kong-monetary-authority-statement-by-norman-t-l-chan-chief-executive-of
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The statement signals that Hong Kong dollar rates will rise with US rates, which affects regional financing costs but has limited direct effect on feed commodity prices.

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## Sources

- hkma.gov.hk: https://www.hkma.gov.hk/eng/news-and-media/speeches/2016/12/20161215-1/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.