According to reports from Jinshi Data, Morgan Stanley stated that the Hong Kong Interbank Offered Rate (Hibor) may rebound from its recent decline in the coming months, as some excess liquidity in the market may be absorbed again. The recent decline in Hibor is attributed to the Hong Kong Monetary Authority injecting a significant amount of Hong Kong dollar liquidity, reduced selling pressure on the US dollar, and weakened demand for the Hong Kong dollar due to inflows into the stock market. Morgan Stanley believes that while the exact timing is difficult to determine, the likelihood of a Hibor rebound is high. A continued decline in Hong Kong dollar interest rates is expected to wait until 2026, as the Federal Reserve is anticipated to further cut rates.