Hong Kong Composite Interest Rate Remains Stable In December

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Tuesday, the Hong Kong Monetary Authority announced that the composite interest rate , which is a measure of the average cost of funds of banks, stood at 0.11% at the end of December, unchanged from the previous month. Economists expected the rate to be 1%. In October, the composite interest rate was 0.13%.

In December, the interbank rates rose marginally and the movements of time deposit rates were mixed , the HKMA said.

The composite interest rate for the end of January is due on 22 February 2010.

Tuesday, the Hong Kong Monetary Authority announced that the composite interest rate , which is a measure of the average cost of funds of banks, stood at 0.11% at the end of December, unchanged from the previous month. Economists expected the rate to be 1%. In October, the composite interest rate was 0.13%. (Market News Provided by RTTNews)