Hong Kong Dollar Interest Rates Fall Across the Board, Dipping Below 5% in Three Months to Reach a New Low in Over Two Months.
Hong Kong dollar interbank rates have fallen across the board, with the three-month rate dropping below 5% to a low of 4.94054%, the lowest since June 16th.
According to Dolphin Research, on August 22nd, the Hong Kong Association of Banks released data showing that Hong Kong dollar interbank rates have fallen across the board. Among them, the three-month rate dropped below 5%, reaching a low of 4.94054% since June 16th, with the spread between the US dollar LIBOR rate widening to 70 basis points. The overnight rate slightly retreated to 3.20964%, returning to the level of last Thursday (17th), while the one-week interbank rate held at 4%, reporting 4.07238%. The one-month interbank rate, which is related to property mortgages, further declined to 4.52036%, the lowest since June 13th, with the spread between the US dollar LIBOR rate widening to 91 basis points. As for longer-term rates, the six-month and one-year interbank rates dropped to 5.14405% and 5.33143% respectively.
