May 5, 2020 / 3:47 AM / 21 days ago

Hong Kong interbank rates fall across the curve

HONG KONG, May 5 (Reuters) - Hong Kong interbank lending rates fell across the curve on Tuesday, indicating a rising availability of cash in the city, with the one-month rate at a two-year trough of 0.86%.

Overnight HIBOR fell to 0.26% and the one-week rate dropped to 0.55%, with both marking their lowest levels since January 2019.

The drop reflects loosening liquidity following recent interventions by the Hong Kong Monetary Authority, said Carie Li, economist at OCBC Wing Hang. (Reporting by Noah Sin; Additional reporting by Twinnie Siu; Editing by Kim Coghill)

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