Composite interest rate falls

The composite interest rate was down two basis points to 0.4% at the end of July, from 0.42% at the end of June, the Monetary Authority announced today.

 

The decline mainly reflected a decrease in the weighted funding cost for deposits, it said.

 

The composite interest rate is an average cost of funds of banks.

 

The composite interest rate at the end of August is scheduled to be released on September 19.

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