According to statistics released today (23 August) by the Monetary Authority of Macao, funding costs of the banking sector in Macao generally retreated in the second quarter of 2024.

At end-June 2024, the composite interest rates for MOP and HKD decreased by 4 basis points and 11 basis points, from 2.17% and 3.72% at end-March 2024 to 2.14% and 3.60% 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.