The Hong Kong dollar interbank lending rate has dropped across the board, with the one-month rate falling for two consecutive days to 2.36%.

On March 2nd, the Hong Kong Interbank Offered Rate (HIBOR) saw a widespread decline, with the one-month rate related to mortgage loans falling for two consecutive days to 2.35518%, a decrease of 5.803 basis points. The three-month HIBOR, which reflects the cost of funds for banks, fell to 2.52887%, a decrease of 5.476 basis points. The overnight rate dropped to 2.10083%, a decrease of 45.108 basis points. The one-week rate fell by 27.584 basis points to 2.13595%, while the two-week rate decreased by 19.411 basis points to 2.21768%. In terms of longer term rates, the six-month HIBOR dropped by 5.441 basis points to 2.67851%, while the one-year rate fell by 5.94 basis points to 2.78161%.