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The Macau Monetary Authority lowered the base rate by 25bps to 4.75% on December 19th, after its Hong Kong counterpart made the same move following the US Federal Reserve's decision to slash rates. It marked the third consecutive rate cut this year in the Chinese administrative territory, bringing borrowing costs to the lowest level since January 2023 amid an easing in economic growth. Macau's economy expanded by 4.7% yoy in Q2 of 2024, the seventh consecutive quarter of expansion but the softest growth in the sequence, due to a slowdown in export goods and services.