Hong Kong dollar interbank rates all fall. Overnight rate sharply drops to 3.4139%, hitting a two-week low.

According to the Wise Finance APP, on May 6, the Hong Kong Monetary Authority continued to inject funds into the market, with Hong Kong dollar interest rates falling across the board today. The overnight rate fell significantly by nearly 89 basis points to 3.41393%, hitting a two-week low. The one-month interbank rates related to mortgages also dropped by 33 basis points to 3.65506%, reaching the lowest level since April 22. The three-month interbank rate, reflecting the cost of bank funds, is at 3.74119%, the lowest since May 2, 2023. The rates for six months and one year also dropped to 3.81911% and 3.85488% respectively.