Hong Kong dollar interbank offered rates have fallen for two consecutive days, with rates for two weeks and below dropping below 4%
On January 10th, the Hong Kong dollar interbank offered rate (HIBOR) fell across the board for two consecutive days, with the two-week and shorter-term rates dropping below 4%. Among them, the overnight rate fell nearly 13 basis points to 3.87262%, hitting a nearly four-week low, while the one-month rate related to mortgage loans also fell for three consecutive days, reporting 4.09429%, the lowest since November 7, 2024. The three-month HIBOR, which reflects the cost of bank funding, slightly decreased to 4.10036%, marking a three-and-a-half-month low, while the six-month and one-year rates both fell to 4.09571%. In the market, Jeff Schmid, President of the Federal Reserve Bank of Kansas City, expressed a tendency to support a slowdown in the pace of interest rate cuts. He believes that the Federal Reserve should gradually adjust its policy in the future and only respond when there is a sustained change in the data tone
According to Zhitong Finance APP, on January 10th, the Hong Kong dollar interbank offered rate (HIBOR) fell across the board for two consecutive days, with the two-week and shorter-term rates dropping below 4%. The overnight rate fell nearly 13 basis points to 3.87262%, marking a new low in nearly four weeks, while the one-month rate related to mortgage loans also fell for three consecutive days, reporting 4.09429%, the lowest since November 7, 2024.
The three-month HIBOR, which reflects the cost of bank funding, slightly decreased to 4.10036%, a new low in three and a half months, while the six-month and one-year rates both fell to 4.09571%. In the market, Jeff Schmid, president of the Federal Reserve Bank of Kansas City, expressed a tendency to support a slowdown in the pace of interest rate cuts. He believes that the Federal Reserve should gradually adjust its policies in the future and only respond when there is a sustained change in the data tone.
