HONG KONG : Hong Kong interbank rates rose across all tenors on Friday, with the overnight interbank offered rate rising the most, climbing to the highest in four weeks.
The overnight Hong Kong interbank offered rate jumped 63.5 basis points to 4.88 per cent. One-week Hibor rose 62 bps to 4.92 per cent, highest in nearly 16 years. One-month Hibor, the benchmark used in pricing residential mortgage loans, rose 21.8 bps to 4.97 per cent, the highest since December 2022.
Hong Kong listed companies' demand for Hong Kong dollars for dividend payments peaks in the three months to August and this could send interbank rates higher, Hong Kong Monetary Authority Chief Executive Eddie Yue said in an article published on the HKMA website on Wednesday.
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