
Composite interest rate dips to 0.36%
Blame it on a slide in funds.
According to a government release, the composite interest rate was 0.36% at the end of October, down two basis points on September's figure.
The Monetary Authority announced the figure today, saying the decline mainly reflected a decrease in the weighted funding costs for deposits and interbank funds.
The composite interest rate is a measure of the average cost of funds of banks.