Published:
HK composite interest rate reaches 0.41%
It's because of funding costs.
According to Barclays, the 10-year US Treasury bond yield rebounded 9bp to 2.72%.
Compared to the 3.00% level at the start of the year, current 10-year UST yields are still 28bps lower.
Here's more from Barclays:
Locally, the Hong Kong composite interest rate rose 4bps from 0.37% at end of February to 0.41% at the end of March 2014.
The rise in the composite interest rate reflected increases in weighted funding cost of for both deposits and interbank funds.
Meanwhile, the three-month Hibor remained unchanged at 0.37%, while the HKD/USD exchange rate remained largely unchanged at 7.754.
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