Hong Kong dollar interbank rates for two months and below rebounded across the board, with the one-month term ending a three-day decline

Zhitong
2025.01.24 05:56
portai
I'm PortAI, I can summarize articles.

As the Spring Festival holiday approaches, liquidity is tightening, and the Hong Kong dollar's interbank rates for two months and below have rebounded across the board. The overnight rate rose by 37 basis points to 3.167262%, reaching a nearly one-week high. The one-month interbank rate related to mortgage loans ended a three-day decline, reported at 3.80571%. The three-month interbank rate, reflecting banks' funding costs, fell to 3.83399%, while the six-month and one-year rates dropped to 3.9372% and 3.9481%, respectively. According to the Hong Kong Monetary Authority, Hong Kong banks borrowed HKD 2 billion in overnight liquidity from the discount window yesterday (23rd). The balance of the Hong Kong banking system fell back to about HKD 44.637 billion today. The Hong Kong dollar exchange rate fluctuated between 7.7858 and 7.7904 this morning, with the latest rate at 7.7879, up 0.02% from the previous closing price. During a video participation in the Davos World Economic Forum on Thursday (23rd), U.S. President Trump called for Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to lower oil prices. His remarks have led to a continued decline in oil prices. Although Trump did not directly point to the Federal Reserve, he stated that as oil prices fall, he would demand an immediate reduction in interest rates, and similarly, global interest rates should also be lowered

According to Zhitong Finance APP, as the Spring Festival holiday approaches, liquidity is tightening, and the Hong Kong dollar's interbank offered rates for two months and below have rebounded across the board. Among them, the overnight rate rose by 37 basis points to 3.167262%, reaching a nearly one-week high. The one-month interbank rate related to mortgage loans ended a three-day decline, reported at 3.80571%. The three-month interbank rate, reflecting the cost of bank funds, fell to 3.83399%, while the six-month and one-year rates dropped to 3.9372% and 3.9481%, respectively.

According to the Hong Kong Monetary Authority, Hong Kong banks borrowed HKD 2 billion in overnight liquidity from the discount window yesterday (23rd). The balance of the Hong Kong banking system fell back to about HKD 44.637 billion today. The Hong Kong dollar exchange rate fluctuated between 7.7858 and 7.7904 this morning, with the latest rate at 7.7879, up 0.02% from the previous closing price.

U.S. President Trump participated via video in the Davos World Economic Forum on Thursday (23rd), urging Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to lower oil prices. His remarks have led to a continued decline in oil prices. Although Trump did not directly point to the Federal Reserve, he stated that with falling oil prices, he would demand an immediate reduction in interest rates, and similarly, global interest rates should also be lowered.

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.