Bank to raise interest rates today

PUBLISHED : Friday, 13 May, 2011, 12:00am
UPDATED : Friday, 13 May, 2011, 12:00am

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Bank of China Hong Kong will raise interest rates based on the Hibor today. The mortgage rate would rise to Hibor plus 1.3-1.7 per cent from Hibor plus 1-1.5 per cent. The benchmark one-month Hong Kong interbank offered rate stood at 0.19 per cent yesterday. Other banks said they would monitor the markets, but had no plans to raise Hibor-based mortgage rates.