On June 19, the Hong Kong Monetary Authority (HKMA) announced the composite interest rate at the end of May 2024.
On June 19, the Hong Kong Monetary Authority (HKMA) announced the composite interest rate at the end of May 2024. The comprehensive interest rate, which reflects the average cost of funds for banks, was 2.61% at the end of May 2024, a drop of 4 basis points from 2.65% at the end of April 2024. The drop in the composite interest rate mainly reflects a decrease in the weighted cost of funds for deposits during the month.