Interest rate of the first interest payment for Silver Bond Series due 2025

The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government, announced today (28 February) the relevant per annum interest rate for the first interest payment of Silver Bond Series due 2025 (Issue Number 03GB2509R) (the Bonds) issued under the Retail Bond Issuance Programme of the Government Bond Programme.

According to the Issue Circular dated 9 August 2022 for the Bonds, the first interest payment of the Bonds is scheduled to be made on 14 March 2023, and the relevant interest rate is scheduled to be determined and announced on 28 February 2023 as the higher of the prevailing Floating Rate and Fixed Rate.   

On 28 February 2023, the Floating Rate and Fixed Rate are as follows:-

Floating Rate: +2.38%¹
Fixed Rate: +4.00%

Based on the Floating Rate and Fixed Rate set out above, the relevant interest rate for the first interest payment is determined and announced as 4.00% per annum.

Hong Kong Monetary Authority
28 February 2023

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¹

Note: 

According to the Census and Statistics Department's press releases dated 21 October 2022 and 21 November 2022, the increase of the CCPI to 4.4% in September 2022 was mainly due to the low base of comparison resulted from the waiver of public housing rentals by the Hong Kong Housing Authority in September 2021.