The Monetary Authority of Macao (AMCM) raised the Base Rate of the Discount Window today (15 December 2022) by 50 basis points to 4.75%.  

As the pataca is linked to the Hong Kong dollar, the movements of policy rates in Hong Kong and Macao should be basically consistent in order to maintain the effective operation of the linked exchange rate system.  Hence, the AMCM followed the Hong Kong Monetary Authority to adjust its Base Rate.  Under the linked exchange rate system between the Hong Kong dollar and the US dollar, the Hong Kong Monetary Authority adjusted its Base Rate according to a pre-set formula, in response to the policy action by the US Federal Reserve to raise the Fed funds rate target range by 50 basis points on 14 December 2022 (US time).

Macao’s Base Rate is constantly updated in the “Financial Information” column of the AMCM website ( https://www.amcm.gov.mo/en/financial-information/base-rate ) for the public’s convenient access at any time.