Monthly Hong Kong dollar overnight interest rates hit a new high for the year on settlement day, but the rates for one and three-month periods fell below 4%.

According to the Guotong Financial APP, on April 30, before the month-end and May Day holiday, the Hong Kong dollar interbank interest rate softened, with only the overnight interest rate increasing by 22 basis points to 4.5%, the highest since December 31 of last year. The interest rates for other periods softened, with the one-month and three-month interbank interest rates both falling below 4%.