Offshore RMB interbank lending rates continue to decline

Golden Ten Data reported on March 16 that the offshore RMB Hong Kong Interbank Offered Rate (CNH HIBOR) on Monday showed that most major term rates continued to decline. Among them, the overnight HIBOR fell by 3 basis points to 1.46098%. In addition, more than 40% of daytime repo agreement liquidity has been utilized. The one-week HIBOR edged down to 1.53879%, hitting a new one-week low; the two-week HIBOR remained flat at 1.6%; the one-year HIBOR edged down to 1.85455%, marking a new low since March 6.