30 Sep 2025 | 5 Mins Read
Hong Kong's key borrowing rate tops 5% for the first time in 2024
Flipitmoney
The overnight Hong Kong Interbank Offered Rate jumped 130 basis points to 5.018%, the highest since December, due to tight cash conditions and quarter-end demand. This brings the total rise in three months to nearly 500 basis points, the most on record. The Hong Kong Monetary Authority's liquidity drainage to defend the currency peg and mainland investors' equity purchases.