Hong Kong dollar interbank rates fell across the board, with the one-month rate hitting a new low in over five weeks
On November 4th, the market is watching this week's U.S. presidential election and the Federal Reserve's interest rate decision, with Hong Kong dollar interbank rates falling across the board. The overnight rate dropped 24 basis points to 3.65774%, the lowest since September 20th. The one-week interbank rate fell below 4%, reaching a low of 3.99179%, while the one-month interbank rate, related to mortgage loans, also declined for two consecutive days, reporting 4.0847%, marking a five-week low. The three-month interbank rate, which reflects the cost of bank funds, also fell for two consecutive days, reporting 4.25518%, the lowest since September 30th. The six-month and one-year rates fell to 4.18435% and 4.08893%, respectively
According to Zhitong Finance APP, on November 4th, the market is watching the two major events of the U.S. presidential election and the Federal Reserve's interest rate decision this week, leading to a widespread decline in Hong Kong dollar interbank rates. The overnight rate fell by 24 basis points to 3.65774%, the lowest since September 20th. The one-week interbank rate dropped below 4%, reaching a low of 3.99179%, while the one-month interbank rate, which is related to mortgage rates, also fell for two consecutive days, reporting 4.0847%, marking a five-week low.
The three-month interbank rate, which reflects the cost of bank funding, also fell for two consecutive days, reporting 4.25518%, the lowest since September 30th. The six-month and one-year rates dropped to 4.18435% and 4.08893%, respectively.
