Overnight HKD HIBOR jumps to the highest since September 30

The overnight Hong Kong Dollar (HKD) Hong Kong Interbank Offered Rate (HIBOR) jumped to 2.37%, hitting the highest levels since September, 30th.

The HIBOR is a reference rate for lenders and borrowers that participate in the Asian economy.

The USD/HKD pair is currently trading near 7.8360, almost unchanged on the day.

Earlier today, HKMA followed Fed’s footsteps and announced the third-rate cut.