The Hong Kong dollar interbank interest rates are surging across the board, with the one-month rate reaching 2.68%, the highest in over three months.

On May 11, the Hong Kong dollar interbank rates rose across the board, with the one-month interbank rate related to the property market rising for three consecutive days to 2.68387%, an increase of 6.774 basis points, the highest since January 27. The three-month interbank rate, which reflects the cost of bank funds, rose to 2.85637%, an increase of 5.637 basis points, the highest since January 26. The overnight rate rose to 2.83339%, an increase of 9.5 basis points; the one-week interbank rate rose by 6.988 basis points to 2.68458%, while the two-week rate also rose by 6.988 basis points to 2.68458%. In terms of longer-term rates, the six-month interbank rate increased by 10.803 basis points to 2.93577%, while the one-year rate rose by 5.232 basis points to 3.13101%.