On April 19, the Hong Kong dollar interest rate rose across the board. According to the data from the Hong Kong Association of Banks, the overnight interest rate rose above 2% to 2.10857%, an increase of more than 42 points from the previous day, which was the highest in nearly a month and rose for two consecutive days; The 1-month interest rate related to housing mortgages rose by more than 5 basis points to 2.86619%, a high in the past two weeks; the 3-month interest rate rose by more than 4 basis points to 3.54714%, a record high in more than 1 week. In terms of long-term interest rates, the six-month interbank rate rose to 4.01095%; the one-year interbank rate rose to 4.29006%.
On April 19, the Hong Kong exchange rate once touched the weak-side convertibility guarantee of 7.85 Hong Kong dollars to 1 U.S. dollar. The Hong Kong Monetary Authority entered the market for the fifth time this month. The aggregate balance fell below 50 billion Hong Kong dollars to 49.23 billion Hong Kong dollars, a new low in more than 14 years. During the current cycle of interest rate hikes in the United States, since the early morning of May 12, 2022, the Hong Kong Monetary Authority has received money 48 times, with a total of 288.954 billion Hong Kong dollars.
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