HKD interbank rates fall broadly; one-month rate drops for second straight day to 2.68%, a more than two-month low

On November 2, HKD interbank rates fell broadly, with the one-month rate, which is linked to mortgage payments, at 2.67750%, down 3.173 basis points; the three-month rate, which reflects banks' funding costs, was at 3.20548%, down 0.708 basis points. The overnight rate was at 2.45048%, down 32.416 basis points; the one-week rate fell 19.411 basis points to 2.47512%, while the two-week rate fell 12.280 basis points to 2.53101%. On longer tenors, the six-month rate fell 2.321 basis points to 3.43411%, while the one-year rate fell 2.131 basis points to 3.91964%.