Hong Kong's composite interest rate rises to 0.32%
Hong Kong - XINHUA
The Hong Kong Monetary Authority Thursday announced that the city's composite interest rate rose to 0.32 percent at the end of June 2013. The composite interest rate, which is a measure of the average cost of funds of banks, increased by 6 basis points to 0.32 percent at the end of June 2013, from 0.26 percent at the end of May 2013. The rise in the composite interest rate reflected a moderate increase in the weighted funding cost for deposits in June, while HIBORs were steady during the month, the authority said.
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