Hong Kong Dollar Interest Rates Rise Across the Board, Overnight and One-Month Rates Reach One-Week Highs
The three-month interbank lending rate, which reflects the cost of bank funds, has slightly increased to 5.23060%, reaching a new high in the past week.
According to the information obtained from the Zhitong Finance APP, after the Chung Yeung Festival and before the release of the government's policy report, on October 24th, the Hong Kong dollar interbank rates rose across the board. Among them, the overnight rate rose to 4.56119%, and the one-month interbank rate related to property mortgages also rose for two consecutive days, reaching 4.96518%, both reaching a new high for the week. The three-month interbank rate, which reflects the cost of bank funds, rose slightly to 5.23060%, reaching a new high in nearly a week, while the spread between the US dollar LIBOR and the same period narrowed to 43 basis points. As for the long-term rates, the six-month rate fell for two consecutive periods, reaching 5.3128%, and the one-year rate reached 5.4706%.
