MOP, HKD composite interest rates decrease in Q3

By Therese Tu

Funding costs of the local banking sector generally declined in the third quarter of 2021, according to statistics released today (Wednesday) by the Monetary Authority of Macau.

The composite interest rates for MOP and HKD fell 2 basis points and 3 basis points, from 0.50 per cent and 0.86 per cent at end-June 2021 to 0.48 per cent and 0.83 per cent respectively.

Composite interest rates are an important indicator facilitating the financial sector to closely track movements in domestic funding costs.

Macau’s composite interest rates are the weighted average interest rates of all interest-bearing liabilities and non-interest-bearing demand deposits on local banks’ books.

Composite Interest Rates
Year Month MOP HKD
2020 3 0.9937 1.8388
6 0.8757 1.4917
9 0.7951 1.2307
12 0.6561 1.0749
2021 3 0.5646 0.9318
6 0.5023 0.8602
9 0.4778 0.8279