Hong Kong Monetary Authority - Interest rate of the sixth interest payment for Silver Bond Series due 2024

Press Releases

29 Jul 2024

Interest rate of the sixth interest payment for Silver Bond Series due 2024

The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government, announced today (29 July) the relevant per annum interest rate for the sixth interest payment of Silver Bond Series due 2024 (Issue Number 03GB2408R) (the Bonds) issued under the Retail Bond Issuance Programme of the Government Bond Programme.

According to the Issue Circular dated 29 June 2021 for the Bonds, the sixth interest payment of the Bonds is scheduled to be made on 12 August 2024¹, and the relevant interest rate is scheduled to be determined and announced on 29 July 2024 as the higher of the prevailing Floating Rate and Fixed Rate.

On 29 July 2024, the Floating Rate and Fixed Rate are as follows:

Floating Rate:	+1.60%²
Fixed Rate:	+3.50%

Based on the Floating Rate and Fixed Rate set out above, the relevant interest rate for the sixth interest payment is determined and announced as 3.50% per annum.

Hong Kong Monetary Authority
29 July 2024

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The original sixth interest payment was on 10 August 2024 (Saturday). As the aforesaid payment date is not a business day in Hong Kong under the definition of the Issue Circular, the interest payment date will be rescheduled to 12 August 2024, i.e., the next day business day in Hong Kong in accordance with the aforesaid Circular. The interest will be accrued to 12 August 2024, the new payment date.

Month	Year-on-year rates of change in the 2019/20-based Composite Consumer Price Index (%)
January 2024	+1.70
February 2024	+2.10
March 2024	+2.00
April 2024	+1.10
May 2024	+1.20
June 2024	+1.50
Arithmetic Average	+1.60

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