South Korea's Producer Prices Cool, Signaling Potential for Further Rate Cuts
In October, Hong Kong's CPI rose by 1.4% year-on-year and increased by 2.2% month-on-month.
In October 2024, Hong Kong's overall consumer prices increased by 1.4% compared to the same month last year, which is lower than the corresponding increase in September 2024 (2.2%).
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At the end of October, Hong Kong's composite interest rate fell to 2.3%.
The Hong Kong Monetary Authority announced that the comprehensive interest rate reflecting the average funding cost of banks was 2.3% at the end of October, a decrease of 5 basis points from the 2.35% at the end of September. The decrease in the comprehensive interest rate mainly reflects the reduction in the weighted funding cost of deposits within the month.