Composite interest rate up 5bps

Business | 17 Oct 2019 7:28 pm

The composite interest rate, a measure of the average cost of funds of banks, increased by 5 basis points to 1.02 percent at the end of last month, from 0.97 percent at the end of August, the Hong Kong Monetary Authority announced today.

The increase in composite interest rate reflected increase in the weighted funding cost for deposits during the month, the city's de-facto central bank noted.

 

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