Bank funding costs rise

Business | 19 Nov 2019 6:18 pm

The composite interest rate, a measure of the average cost of funds of banks, increased by 2 basis points to 1.04 percent at the end of October, from 1.02 percent at the end of September, the Hong Kong Monetary Authority said.

The increase in composite interest rate reflected increase in the weighted funding cost for deposits during the month, the HKMA noted.

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