HSBC Direct bumps interest rates to 5.05% APY

Guess this may have been an reaction to U.S. Fed set for 17th rate rise: Most analysts expect the Fed to raise the overnight federal funds rate a quarter-percentage point to 5.25 percent, its highest level since March 2001, although a few have speculated about the potential for a half-percentage point move. Just 10 days ago, HSBC bumps their rate to 4.8%. Today, I received an email stating they’ve bumped it again to 5.05%.

But unfortunately, all my money there have been already been withdrawn as down payment for my condo and I don’t see it growing back fast any time soon.

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