Quarterly settlement date Hong Kong dollar overnight borrowing rate hits a near three-week high but three-month period drops for the third consecutive month.

Overnight interbank interest rates rose more than 80 basis points to 3.85476% on the quarter-end, reaching a new high in the past two to three weeks. However, the one-month interbank interest rates related to mortgages fell for the third consecutive time, reporting 3.7275%, continuing to be the lowest since February 14. The one-week interbank interest rates fell for two consecutive days, reporting 3.42679%, while the three-month interbank interest rates reflecting the cost of bank funds fell for three consecutive days, reporting 3.88244%, the lowest since March 18. The six-month and one-year rates have also decreased to 3.97417% and 4.05304% respectively.