futures contract in interbank interest rate
But the macroeconomic cooling has emerged. The real estate market and the field of steel-intensive investment type of cooling is revealed, there is also rising interbank interest rates.
As a result of these developments, interbank interest rates moved on a downtrend, to around 4.5 per cent at end-September.
ON AUGUST 9th 2007, after an alarming leap in interbank interest rates, the European Central Bank signalled its readiness to provide the banking system with the liquidity it suddenly lacked.
The decline in interbank liquidity was buffered in part by Discount Window activities and a moderate rise in interbank interest rates.
Indeed, with the weakening of the yen this week, Hong Kong currency is already under pressure in the form demonstrated in the higher interbank interest rate in the last few days.
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