Hong Kong dollar interbank offered rates have fallen for two consecutive days, with rates for two weeks and below dropping below 4%

On January 10th, the Hong Kong dollar interbank offered rate (HIBOR) fell across the board for two consecutive days, with the two-week and shorter-term rates dropping below 4%. Among them, the overnight rate fell nearly 13 basis points to 3.87262%, hitting a nearly four-week low, while the one-month rate related to mortgage loans also fell for three consecutive days, reporting 4.09429%, the lowest since November 7, 2024. The three-month HIBOR, which reflects the cost of bank funding, slightly decreased to 4.10036%, marking a three-and-a-half-month low, while the six-month and one-year rates both fell to 4.09571%. In the market, Jeff Schmid, President of the Federal Reserve Bank of Kansas City, expressed a tendency to support a slowdown in the pace of interest rate cuts. He believes that the Federal Reserve should gradually adjust its policy in the future and only respond when there is a sustained change in the data tone