The composite interest rate fell to 0.86% at the end of November, from 1.28% at the end of October, the Monetary Authority says.

Following a rise of 10 basis points in October, November's drop reflected the downward adjustments of interbank and time deposit rates.

Liquidity conditions in the interbank market have improved following the market operations and measures taken by the authority.

It said the composite interest rate will continue to be influenced by global financial market conditions.