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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (June 17) the composite interest rate at the end of May 2011.
The composite interest rate, which is a measure of the average cost of funds of banks, increased by 1 basis point to 0.26% at the end of May 2011, from 0.25% at the end of April 2011 (see Chart 1 in the Annex). The rise in the composite interest rate in May reflected an upward adjustment of the weighted deposit rate (see Chart 2 in the Annex) .
The historical data of the composite interest rate from the end of the fourth quarter of 2003 to the end of May 2011 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk). The next data release is scheduled for July 19, 2011 and will provide the composite interest rate at the end of June 2011.
Ends/Friday, June 17, 2011
Issued at HKT 16:31
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