MACAO, Aug. 24 (Xinhua) -- The composite interest rates of Macao's banking sector for the pataca (MOP) and the Hong Kong dollar (HKD) decreased in the second quarter of 2021, the Monetary Authority of Macao announced on Tuesday.

At the end of June 2021, the composite interest rates for MOP and HKD fell six basis points and seven basis points from the end of March to 0.50 percent and 0.86 percent, respectively, reflecting a general decline in funding costs of the local banking sector during the second quarter of 2021, according to the authority.

Macao's composite interest rates are the weighted average interest rates of all interest-bearing liabilities and non-interest-bearing demand deposits on local banks' books. These statistical indicators facilitate the financial sector to closely track movements in domestic funding costs. Enditem

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