MACAU, May 24 - According to statistics released today by the Monetary Authority of Macao, funding costs of the local banking sector generally increased in the first quarter of 2022.

At end-March 2022, the composite interest rates for MOP and HKD rose 2 basis points and 6 basis points, from 0.48% and 0.81% at end-December 2021 to 0.50% and 0.87% respectively.

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.