MACAU, February 24 - According to statistics released today by the Monetary Authority of Macao, funding costs of the local banking sector dropped slightly in the fourth quarter of 2021.

At end-December 2021, the composite interest rate for MOP remained virtually unchanged from the previous quarter at 0.48%, whereas that for HKD edged down by 1 basis point, from 0.82% at end-September 2021 to 0.81%.

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.