Hong Kong dollar two-month and above interbank interest rates have risen across the board, while overnight rates hit a one-week low.
On March 4th, the Hong Kong dollar two month and above Interbank Offered Rate (IBOR) rose across the board. Among them, the three-month IBOR, which reflects the cost of bank funds, rose to 4.68458%, returning to the level seen on February 28th. The spread between the Hong Kong dollar IBOR and the US dollar LIBOR slightly narrowed to 91 basis points.
On March 4th, the Hong Kong dollar two-month and above Interbank Offered Rate (HIBOR) all rose today, with the three-month HIBOR, reflecting the bank funding cost, rising to 4.68458%, returning to the level of February 28th, and the spread with the USD LIBOR slightly narrowing to 91 basis points. However, the overnight rate dropped by 13 basis points to 3.80143%, hitting a one-week low, while the HIBOR related to mortgage loans remained at 4.46917%. As for longer-term rates, the six-month and one-year rates rose to 4.69% and 4.76732% respectively.
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