The Hong Kong dollar interbank rates are all falling, with the one-month rate dropping below 0.6% to reach a near three-year low.

On May 23, the Hong Kong dollar interbank interest rates all fell, with the overnight rate dropping by 0.131 basis points to 0.02702%, the lowest since May 20. The one-month interbank interest rates related to property mortgages have fallen for six consecutive days, dropping by 7.649 basis points to 0.58964%, the lowest since June 16, 2022. The three-month interbank interest rate, which reflects bank funding costs, dropped by 15.69 basis points to 1.55286%, the lowest since June 22, 2022. The six-month rate fell by 10.75 basis points to 2.46917%, the lowest since July 19, 2022. The one-year interbank interest rate also dropped to 3.08964%, the lowest since May 14.