HSBC, the Standard Chartered Bank, Hang Seng Bank and Bank of China (Hong Kong) announced Wednesday that they will raise their prime lending rate by 50 basis points from Thursday.

With effect from Thursday, the prime lending rate of HSBC, Hang Seng Bank and Bank of China (Hong Kong) will be raised from 7 percent to 7.5 percent per annum. The Standard Chartered Bank's prime lending rate will be raised to 7.75 percent per annum.

At the same time, the HK dollars saving deposit rate of those banks also will be raised 0.5 percent from Thursday.

The US Federal Reserve decided to increase the US dollar interest rate by 0.25 percent Tuesday.

Source: Xinhua