HKD interbank rates diverge; 1-month rate falls for a fourth day to 2.94%

On October 5, HKD interbank rates moved in mixed directions, with the one-month rate, which is linked to mortgage loans, reported at 2.94220%, down 2.619 basis points; the three-month rate, which reflects banks' funding costs, was reported at 3.26875%, up 2.393 basis points. The overnight rate was reported at 2.72393%, down 8.536 basis points; the one-week interbank rate fell 17.536 basis points to 2.75738%; the two-week rate dropped 13.060 basis points to 2.77726%. On longer tenors, the six-month interbank rate fell 0.036 basis points to 3.52964%; the one-year rate was unchanged at 4.01351%.