MACAO, May 24 (Xinhua) -- The composite interest rates for the pataca (MOP) and the Hong Kong dollar (HKD) rose from 1.53 percent and 2.81 percent at the end of 2022 to 1.69 percent and 3.03 percent, respectively, at the end of March this year, the Monetary Authority of Macao said on Wednesday.
The composite interest rates for the MOP and the HKD rose 17 basis points and 21 basis points during the cited period, respectively, reflecting a general increase in the funding costs of the local banking sector in the first quarter of 2023, according to the authority.
Macao'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, said the authority. ■
