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FINANCIAL SERVICES | Staff Reporter, Hong Kong

Composite interest rate down to 0.3% in August

It was caused by a slight decline in the banks' weighted funding cost.

The composite interest rate dropped to 0.3% at the end of August from 0.31% at the end of July.

The Monetary Authority said the drop reflected a slight decline in the weighted funding cost for interbank funds during the month.

The composite interest rate is a measure of the average cost of funds of banks.

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