Hong Kong dollar interest rates are all falling, with one-month rates dropping below 1%.
On May 20th, the Hong Kong dollar interbank interest rates almost all fell, including a one-month interbank interest rate related to mortgages which dropped by 23 basis points to 0.96036%, breaking through the 1% mark, the lowest since July 21, 2022, and falling for three consecutive days.
On May 20th, Hong Kong Dollar interest rates fell across the board, with a one-month interbank rate related to mortgages dropping 23 basis points to 0.96036%, falling below 1% for the first time since July 21, 2022, and declining for three consecutive days.
The overnight interbank rate fell to 0.02667%, while the three-month interbank rate, reflecting bank funding costs, stood at 1.98726%, the lowest since July 21, 2022. The six-month rate decreased to 2.79119%, but the one-year rate increased to 3.26595%, the highest since May 8th.
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Central Bank: We must implement a moderately loose monetary policy to support key areas such as technological innovation, boosting consumption, supporting private small and micro enterprises, and stabilizing foreign trade.
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