Hong Kong Dollar Interbank Rates Surge, One-Month Rate Hits Four-Month High of 2.74%

Stock News06-08

Market expectations for an imminent U.S. interest rate hike have driven Hong Kong dollar interbank offered rates higher.

The one-month Hong Kong Interbank Offered Rate (HIBOR), which is closely tied to mortgage pricing, reached a four-month peak of 2.73673%, rising by 2.155 basis points.

The three-month HIBOR, reflecting bank funding costs, increased by 0.97 basis points to 2.85494%.

The overnight rate rose by 15.547 basis points to 2.32488%.

The one-week rate climbed 4.572 basis points to 2.31393%, while the two-week rate increased by 4.428 basis points to 2.41321%.

For longer-term rates, the six-month HIBOR advanced by 4.328 basis points to 2.98048%, and the one-year rate rose by 2.679 basis points to 3.21399%.

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