HKMA Announces 4.00% Interest Rate for Silver Bond Series due 2025 📈
The Hong Kong Monetary Authority (HKMA) has unveiled the annual interest rate for the fourth interest payment of the Silver Bond Series due 2025. This announcement is part of the Retail Bond Issuance Programme under the Government Bond Programme, as per the HKMA.
Interest Rate Announcement 📊
The fourth interest payment for the Silver Bond Series (Issue Number 03GB2509R) is set for 16 September 2024, as per the Issue Circular dated 9 August 2022. The interest rate was determined based on the higher of the prevailing Floating Rate and Fixed Rate as of 2 September 2024.
Determined Rates 📉
As of 2 September 2024, the HKMA has reported the following rates:
- Floating Rate: +1.73%
- Fixed Rate: +4.00%
Based on these rates, the interest rate for the fourth interest payment has been fixed at 4.00% per annum.
Context and Implications 📑
The introduction of the Silver Bond Series is aimed at providing stable investment opportunities for residents of Hong Kong, primarily focusing on the elderly population. By offering a steady interest rate of 4.00%, the government intends to ensure consistent returns despite market fluctuations. The floating rate, linked to the Composite Consumer Price Index, has been calculated at 1.73% based on year-on-year changes from February to July 2024.
The fixed rate of 4.00% underlines the government’s commitment to offering an attractive and secure investment option to bondholders, particularly in a volatile economic environment where inflation and other economic indicators are unpredictable.
For more information, you can visit the Hong Kong Monetary Authority website.
Hot Take 🔥
Secure your investment with the latest announcement from the HKMA regarding the fourth interest payment of the Silver Bond Series due 2025. Stay informed and make sound financial decisions to maximize your returns in the current economic landscape. Explore the stability and potential growth offered by this opportunity to enhance your investment portfolio. Don’t miss out on this chance to secure your financial future!
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