The composite interest rate rose to 3.34 percent at the end of September from 3.08 percent at the end of August, the Monetary Authority of Hong Kong said Thursday.
The rise was largely due to the upward adjustment in interbank interest rates by nine to 108 basis points, the authority said.
"It reflects tight liquidity conditions throughout the month due to a string of initial public offerings, which tied up a substantial amount of short-term funds," it said.
Looking ahead, the composite interest rate will continue to be influenced by short-term changes in liquidity conditions, the authority said.
Source: Xinhua
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