On August 19, the Hong Kong Monetary Authority announced that the comprehensive interest rate in Hong Kong fell to 0.26% at the end of July, a decrease of three basis points from 0.29% at the end of June.
The decline in the comprehensive interest rate reflects a reduction in the weighted funding costs of deposits and interbank funds during the month.
The comprehensive interest rate is compiled based on information provided by retail banks and reflects the average funding costs of banks. Retail banks account for approximately 90% of the total customer deposits in the banking system.