Opinion: Hibor dislocation gives banks more reason to cease lending

Hong Kong’s interbank market tracks its counterpart in the US, reflecting the peg of the local currency to the US dollar. But rising loans threaten a dislocation between Hibor and Libor rates — and banks should take a cautious approach to their lending for the rest of the year.

  • 02 Nov 2011
The Hong Kong dollar has been pegged against the US dollar since October 1983, after it hit an all-time low in the wake of speculation about the region’s eventual transition from British to Chinese control. That has taken the most basic tool of monetary policy — the setting ...

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