Composite interest rate down to 2.13% in March

This declined from 2.17% in February.

The composite interest rate declined by four basis points to 2.13% at the end of March 2023 from 2.17% in February, according to the Hong Kong Monetary Authority.

The decrease reflected the decline in weighted funding cost for deposits in March it said.

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The composite interest rate is the measure of the average cost of funds in banks.