Hong Kong dollar interbank rates have almost all fallen, with only overnight rates rising for four consecutive days, reaching a one-week high.
On October 31st, the Hong Kong dollar interbank rates experienced a nearly across-the-board decline. The overnight rate, however, rose for four consecutive days, reaching a new weekly high of 4.52905%. In contrast, the one-month interbank rate, which is closely related to mortgage rates, fell to its lowest level since October 19th, at 4.9047%.
According to the information obtained from the Zhitong Finance APP, on October 31st, the Hong Kong dollar interbank rates almost all fell, with only the overnight rate rising for four consecutive days, reaching 4.52905%, a new high for the week. However, the one-month interbank rate related to property mortgages fell to 4.9047%, the lowest since October 19th. The one-week interbank rate fell to 4.66196%, and the three-month rate stopped rising, reaching 5.24262%, with a slight widening of the spread with the USD LIBOR rate to 40 basis points. As for the long-term rates, the six-month and one-year rates fell to 5.31905% and 5.47345% respectively.
