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HKD Appreciates After Composite Interest Rate Hike

HKD Appreciates After Composite Interest Rate Hike

Michael Romero, Contributor

Talking Points:

• Composite Interest Rate Increases In December 2014.

• HKD Rises Following Interest Rate Spike.

The Hong Kong Monetary Authority announced Monday that the composite interest rate, the average cost of funds for banks, increased from 0.38 percent in November 2014 to 0.39 percent by the end of December 2014. The 0.01 percent increase stemmed from increases in weighted funding cost for both interbank funds and deposits. Investors should keep a keen eye out for next data release scheduled for February 23rd 2015 that will yield the composite interest rate for the end of January 2015.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.