Hong Kong Dollar Interest Rates Fall Across the Board for 3 Consecutive Days, Overnight Interest Rates Drop Below 2%
On August 28th, the Hong Kong dollar interbank rates have been falling for three consecutive days. Among them, the overnight rate dropped sharply by 44 basis points to 1.95214%, currently falling below 2%, the lowest since June 5th. In addition, the one-month interbank rate related to property mortgages has been falling for ten consecutive days, reaching 3.81595%, the lowest in three and a half months.
According to Dolphin Research APP, the Hong Kong Interbank Offered Rate (HIBOR) has been declining for three consecutive days in August 28th. Among them, the overnight rate dropped sharply by 44 basis points to 1.95214%, currently falling below 2%, the lowest since June 5th. The one-month HIBOR, which is related to property mortgages, has been declining for ten consecutive days, reaching 3.81595%, the lowest in three and a half months. The three-month HIBOR is at 4.5175%, surpassing the lowest level in three months, and the spread between the HIBOR and the corresponding USD LIBOR has widened to 115 basis points. As for the long-term rates, the six-month and one-year HIBOR have dropped to 4.9256% and 5.20613% respectively.
