HKD HIBOR developments mixed; one-month rate rises for second straight day to 2.78%

On October 23, HKD HIBOR developments were mixed, with the one-month HIBOR, which is linked to mortgage rates, at 2.77893%, up 3.393 basis points; the three-month HIBOR, which reflects banks' funding costs, was at 3.25333%, down 0.072 basis points. The overnight rate was at 2.72417%, up 10.167 basis points; the one-week HIBOR rose 8.190 basis points to 2.71208%, while the two-week rate rose 5.637 basis points to 2.76351%. On longer tenors, the six-month HIBOR fell 1.209 basis points to 3.47583%, while the one-year rate fell 1.768 basis points to 3.96018%.