The Hong Kong Monetary Authority (HKMA) reported that the composite interest rate, which indicates the average cost of funds for banks, fell by 4 basis points to 2.58% at the end of July 2024 from 2.62% at the end of June 2024. This decrease was primarily due to a lower weighted funding cost for deposits. Historical data on the composite interest rate is available in the Monthly Statistical Bulletin on the HKMA website.
Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/08/20240819-4/