According to Jinshi Data, the expectation of the Federal Reserve's interest rate cut has increased, and the Hong Kong banking industry has taken the lead in lowering the Hong Kong dollar time deposit rate. Dah Sing Bank's official website shows that the current three-month Hong Kong dollar high-interest time deposit rate has dropped to as high as 3.4%.
On August 22, the official website of Bank of China (Hong Kong) released information showing that the annual interest rate for the three-month Hong Kong dollar new fund premium time deposit is 3.4%. Analysts believe that Hong Kong interest rates tend to follow the changes in US interest rates. As the expectation of a rate cut by the Federal Reserve heats up, Hong Kong banks choose to lower their time deposit rates in order to avoid the impact of high-interest locked deposits on interest rate spreads.
On August 26, HIBOR (Hong Kong Interbank Offered Rate) fell, and the one-month HIBOR has recently dropped below 4%.
