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    News Details
     
    Composite interest rate: end of September 2017
    Top 9 News Links

    Economic situation in the second quarter of 2021 and latest GDP and price forecasts for 2021

    Provisional statistics of retail sales for July 2021

    External merchandise trade statistics for June 2020

    Advance estimates on Gross Domestic Product for second quarter of 2020

    Business expectations for second quarter of 2018

    Volume and price statistics of external merchandise trade in February 2018

    Unemployment and underemployment statistics for January - March 2018

    Provisional statistics of retail sales for February 2018

    Wage and payroll statistics for December 2017

    The following is issued on behalf of the Hong Kong Monetary Authority:

         The Hong Kong Monetary Authority (HKMA) announced today (October 19) the composite interest rate at the end of September 2017.*

         The composite interest rate, which is a measure of the average cost of funds of banks, remained unchanged at 0.30 per cent at the end of September 2017 (see Chart 1 in the Annex). During the month, the weighted funding cost for deposits remained steady while the weighted funding cost for interbank funds increased slightly (see Chart 2 in the Annex).

         The historical data of the composite interest rate from the end of the fourth quarter of 2003 to the end of September 2017 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk). The next data release is scheduled for November 17, 2017 and will provide the composite interest rate at the end of October 2017.

    * The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest bearing liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and Hong Kong dollar non-interest bearing demand deposits on the books of banks. Data from retail banks, which account for about 90 per cent of the total customers' deposits in the banking sector, are used in the calculation. It should be noted that the composite interest rate represents only average interest expenses. There are various other costs involved in the making of a loan, such as operating costs (e.g. staff and rental expenses), credit cost and hedging cost, which are not covered by the composite interest rate.

    Annex 
    Ends

    October 19, 2017

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