Core Viewpoint - The Hong Kong interbank offered rate (HIBOR) has been rising, with the one-month HIBOR reaching 2% on August 18, marking a new high since May 8, indicating a shift in the banking system's liquidity and interest rate dynamics [1][2] Group 1: Banking System and HIBOR Trends - The banking system's surplus has decreased from a high of 1,740 million HKD in May to approximately 537 million HKD, nearing levels before the Hong Kong Monetary Authority (HKMA) intervened in early May [1] - The continuous rise in HIBOR over four consecutive working days suggests a tightening liquidity environment, with the actual mortgage rate now at 3.3%, still below the market cap of 3.5% [1][2] - The significant widening of the interest rate differential between Hong Kong and the U.S. has led to increased arbitrage activities, prompting the HKMA to intervene multiple times [1] Group 2: Future Expectations and Implications - The rise in HIBOR is expected to narrow the interest rate differential between Hong Kong and the U.S., reducing the incentive for arbitrage and stabilizing the Hong Kong dollar [2] - Despite the current HIBOR being over 2% lower than U.S. rates, expectations of a potential U.S. rate cut later this year could further influence HIBOR downward, with predictions of a decrease in the best lending rate (P) and capped mortgage rates by 0.25% to 0.5% [2] - Factors such as demand for Hong Kong dollars, arbitrage activities, and seasonal influences will continue to affect HIBOR fluctuations, necessitating borrowers to choose capped mortgage plans to mitigate risks associated with rising rates [2]

智通财经APP获悉，8月13日，港元拆息涨跌不一，隔夜拆息报0.17708%，升1.285基点，为8月11日后 最高；一周拆息升1.732基点，报0.35214%，两周拆息维持在0.5%。而与楼按相关的一个月拆息，报 0.91036%，升0.143基点，终止三连跌，为8月11日后最高；反映银行资金成本的三个月拆息报 1.60637%，升0.637基点。 | Maturity | HKD Interest Settlement Rates | | --- | --- | | Overnight | 0.17708 | | 1 Week | 0.35214 | | 2 Weeks | 0.50000 | | 1 Month | 0.91036 | | 2 Months | 1.31036 | | 3 Months | 1.60637 | | 6 Months | 2.21464 | | 12 Months | 2.61786 | 长息方面，六个月拆息维持在2.21464%，一年拆息则跌2.524基点，报2.61786%。 ...

Summary of Key Points Core Viewpoint - The Hong Kong interbank offered rates (HIBOR) have generally decreased, with the overnight rate reaching its lowest level since August 6, indicating a potential easing in the cost of bank funding [1][2]. Interest Rate Movements - The overnight HIBOR is reported at 0.16423%, down by 2.994 basis points [1] - The one-week HIBOR decreased by 1.518 basis points to 0.33482% [1] - The two-week HIBOR remained unchanged at 0.5% [1] - The one-month HIBOR fell to 0.90893%, a decline of 4.309 basis points, marking its lowest level since August 6 [1] - The three-month HIBOR is at 1.6%, down by 2.893 basis points [1] - The six-month HIBOR increased slightly by 0.285 basis points to 2.21464% [1] - The one-year HIBOR decreased marginally by 0.071 basis points to 2.6431% [1]

Group 1 - The Hong Kong interbank offered rates (HIBOR) have generally decreased, with the overnight rate at 0.19417%, down by 7.857 basis points, marking the lowest since August 6 [1] - The one-week HIBOR fell by 7.964 basis points to 0.35%, while the two-week rate decreased by 0.214 basis points to 0.5% [1] - The one-month HIBOR, which is relevant to mortgage rates, is reported at 0.95202%, down by 0.691 basis points, also the lowest since August 6 [1] Group 2 - The three-month HIBOR, reflecting bank funding costs, is at 1.62893%, up by 0.214 basis points [1] - The six-month HIBOR decreased by 1.107 basis points to 2.21179%, and the one-year rate fell by 1.208 basis points to 2.64381% [1][2] - The rates for two months and three months are reported at 1.32917% and 1.62893% respectively [2]

Group 1 - The Hong Kong interbank offered rates (HIBOR) have generally decreased, with the one-month HIBOR at 0.95893%, down by 0.601 basis points, marking the lowest since August 6 [1] - The three-month HIBOR is reported at 1.62679%, down by 2.023 basis points [1] - The overnight HIBOR increased to 0.27274%, up by 7.131 basis points, the highest since July 30 [1] Group 2 - The one-week HIBOR rose by 4.172 basis points to 0.42964%, while the two-week rate decreased by 0.28 basis points to 0.50214% [1] - The six-month HIBOR fell by 2.208 basis points to 2.22286%, and the one-year rate decreased by 0.453 basis points to 2.65589% [1][2]

| 到期日 | 港元利息结算率 | | --- | --- | | 陽夜 | 0.20143 | | 1 星期 | 0.38792 | | 2 星期 | 0.50494 | | 1 个月 | 0.96494 | | 2个月 | 1.35661 | | 3个月 | 1.64702 | | 6个月 | 2.24494 | | 12 个月 | 2.66042 | 智通财经APP获悉，8月7日，港元拆息普遍上升，而与楼按相关的一个月拆息报0.96494%，终止3连 跌，升8.72基点，是8月1日后最高;反映银行资金成本的三个月拆息报1.64702%，升3.095基点。 隔夜息报0.20143%，升6.405基点;一周拆息升10.405基点，报0.38792%，两周则升2.839基点，报 0.50494%。长息方面，六个月拆息升2.226基点，报2.24494%，一年期则跌1.256基点，报2.66042%。 ...

| 到期日 | 港元利息结算率 | | --- | --- | | 陽夜 | 0.13738 | | 1 星期 | 0.28387 | | 2 星期 | 0.47655 | | 1 个月 | 0.87774 | | 2个月 | 1.30494 | | 3个月 | 1.61607 | | 6个月 | 2.22268 | | 12 个月 | 2.67298 | 智通财经APP获悉，8月6日，港元拆息个别发展，而与楼按相关的一个月拆息连跌3日，报0.87774%， 跌5.988基点，是7月4日后最低;反映银行资金成本的三个月拆息报1.61607%，升3.363基点。 隔夜息报0.13738%，升0.351基点;一周拆息跌0.28基点，报0.28387%，两周则跌4.214基点，报 0.47655%。长息方面，六个月拆息升5.357基点，报2.22268%，一年期则跌2.345基点，报2.67298%。 ...

| 到期日 | 港元利息结算率 | | --- | --- | | 陽夜 | 0.13387 | | 1 星期 | 0.28667 | | 2 星期 | 0.51869 | | 1 个月 | 0.93762 | | 2个月 | 1.30089 | | 3个月 | 1.58244 | | 6 个月 | 2.16911 | | 12 个月 | 2.69643 | 隔夜息报0.13387%，跌4.607基点，是7月18日后最低;一周拆息跌14.452基点，报0.28667%，两周则跌5 基点，报0.51869%。长息方面，六个月拆息跌8.863基点，报2.16911%，一年期则跌9.333基点，报 2.69643%。 | 香港时间2025-8-4 | | --- | | 上午11时15分的结算率。 | 智通财经APP获悉，8月4日，港元拆息全线下跌，而与楼按相关的一个月拆息报0.93762%，跌5.548基 点，是7月25日后最低;反映银行资金成本的三个月拆息报1.58244%，跌3.577基点。 ...

Group 1 - The overnight Hong Kong dollar interbank offered rate (HIBOR) decreased to 0.18506%, marking a drop of 23.988 basis points, the lowest since July 18 [1] - The one-week HIBOR fell by 11.542 basis points to 0.62381% [1] - The two-week HIBOR decreased by 8.066 basis points to 0.73089% [1] Group 2 - The one-month HIBOR increased by 0.119 basis points to 1.03363%, the highest since July 18 [1] - The three-month HIBOR reported at 1.6175%, a decrease of 0.429 basis points [1] - The six-month HIBOR rose by 1.768 basis points to 2.26839% [1] - The twelve-month HIBOR is at 2.80185%, with an increase of 0.072 basis points [1]

Group 1 - The Hong Kong interbank offered rates (HIBOR) have generally declined, with the overnight rate at 0.42494%, down by 5.821 basis points, marking the highest level since May 7 [1] - The one-week HIBOR decreased by 9.244 basis points to 0.73923%, while the two-week rate fell by 6.137 basis points to 0.81155% [1] - The one-month HIBOR, which is related to mortgage rates, increased by 1.101 basis points to 1.03244%, the highest since July 18 [1] Group 2 - The three-month HIBOR, reflecting bank funding costs, is reported at 1.62179%, down by 8.035 basis points, the lowest since June 24 [1] - The six-month HIBOR decreased by 13.62 basis points to 2.25071%, while the one-year rate is at 2.80113%, down by 5.411 basis points, the lowest since June 14, 2022 [1]