Hong Kong interbank rates rose across all terms on Friday, with the overnight interbank offered rate rising the most, hitting the highest level in four weeks.
The Hong Kong overnight interbank offered rate (Hibor) jumped 63.5 basis points (bps) to 4.88%. The one-week Hibor rose 62bp to 4.92%, the highest level in almost 16 years.
One-month hibor, the benchmark index used to price residential mortgage loans, rose 21.8 bps to 4.97%, the highest since December 2022.
Demand for Hong Kong dollars for dividend payments by Hong Kong-listed companies peaks in the three months to August and this could push up interbank rates, the chief executive of the Hong Kong Monetary Authority said. Hong Kong (HKMA) Eddie Yue in an article posted on the HKMA website on Wednesday. .
Category: Hong Kong