Hong Kong Interbank Offered Rate (HIBOR)

The Hong Kong Interbank Offered Rate (HIBOR) is the average interest rate at which banks in Hong Kong are willing to lend money to each other over various short-term periods. It serves as a benchmark for financial transactions and loans within the local banking system, helping to guide borrowing costs for businesses and consumers. HIBOR reflects current market conditions, including supply and demand for funds, and is influenced by factors like monetary policy and economic stability. It plays a crucial role in influencing interest rates on financial products in Hong Kong, promoting transparency and stability in the financial market.