According to statistics released today (24 August) by the Monetary Authority of Macao, funding costs of the banking sector in Macao generally increased in the second quarter of 2023.

At end-June 2023, the composite interest rates for MOP and HKD rose 14 basis points and 32 basis points, from 1.69% and 3.03% at end-March 2023 to 1.84% and 3.35% respectively.

Macao’s composite interest rates are the weighted average interest rates of all interest-bearing liabilities and non-interest-bearing demand deposits on Macao banks’ books.