3M-SOR down slightly in January, 3M-SIBOR remained flat
Interest rates were down slightly in January. The 3M-SOR was down 5bps MoM to 0.32% while the 3M-SIBOR remained flat MoM at 0.44%. The 3M-SOR is 1bps higher than its 4Q21 average of 0.31% and has improved by 12bps YoY. The 3M-SIBOR is flat against its 4Q21 average of 0.44% and has improved by 4bps YoY (Figure 1).
Hong Kong and Malaysia loans growth continued in December
Hong Kong’s domestic loans growth increased to 3.79% YoY, but fell by 0.84% MoM in December. The loans growth for December showed a slight dip from the previous month, but it was still the fourth highest positive loans growth YoY recorded for 2021.
Malaysia’s domestic loans growth saw an increase of 4.51% YoY in December and rose 0.53% MoM in December. The increase YoY in December was the highest recorded since May 2019.