The Hong Kong dollar interbank lending rate is almost all falling down. The one-month interbank rate has fallen for four consecutive times and has lost the 2% level.
On May 9th, Hong Kong dollar interbank interest rates mostly fell, with overnight rates dropping by 29 basis points to 0.09786%, the lowest since July 14, 2022. Meanwhile, the one-month interbank interest rates related to property mortgages also dropped for the fourth consecutive time, falling below the 2% level to only 1.93655%, the lowest since September 7, 2022.
On May 9, the Hong Kong dollar interbank rates fell almost across the board. The overnight rate fell by 29 basis points to 0.09786%, the lowest since July 14, 2022. The one-month interbank rate related to the property market also fell for the fourth consecutive time, dropping below 2% to 1.93655%, the lowest since September 7, 2022.
The six-month and one-year rates also decreased to 3.01167% and 3.24095% respectively, the lowest since August 9, 2022, and July 13, 2022. However, the three-month interbank rate, reflecting the cost of bank funds, ended its three consecutive declines and slightly increased to 2.78238%.
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