Author Archives: hksar gov

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced today (November 19) the composite interest rate at the end of October 2018.*

     The composite interest rate, which is a measure of the average cost of funds of banks, increased by 1 basis point to 0.77% at the end of October 2018, from 0.76% at the end of September 2018 (see Chart 1 in the Annex). The rise in composite interest rate reflected increases in the weighted funding cost for deposits during the month (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 October 2018 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk). The next data release is scheduled for December 19, 2018 and will provide the composite interest rate at the end of November 2018.

* The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest bearing liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and Hong Kong dollar non-interest bearing demand deposits on the books of banks. Data from retail banks, which account for about 90% of the total customers’ deposits in the banking sector, are used in the calculation. It should be noted that the composite interest rate represents only average interest expenses. There are various other costs involved in the making of a loan, such as operating costs (e.g. staff and rental expenses), credit cost and hedging cost, which are not covered by the composite interest rate. read more

     The Labour and Welfare Bureau today (November 19) announced that the Rehabilitation Advisory Committee (RAC) will launch the second stage (Formulation of Recommendations Stage) of the public consultation exercise to seek views from members of the public on the formulation of a new Hong Kong Rehabilitation Programme Plan (RPP) through a series of public engagement activities.

     With the assistance of the Hong Kong Polytechnic University Consulting Team, the RAC has completed the first stage (Scoping Stage) of the public consultation exercise to collect stakeholders’ opinions for defining the scope of the new RPP. More than 1 000 persons participated in the public consultation exercise and 70 written submissions were received by the Consulting Team during the period. The Report on Scoping Stage prepared by the Consulting Team has been uploaded to its website (www.rs.polyu.edu.hk/rpp) for public viewing.

     A spokesman for the Labour and Welfare Bureau said, “The Consulting Team will hold four public consultation sessions in early December 2018 and 15 seminars in the first quarter of 2019 to collect views from stakeholders for the priority issues. The five Task Forces under the RAC will also host separate stakeholder meetings, with a view to mapping out the strategic directions and recommendations.”

     The arrangements of the four public consultation sessions under the Formulation of Recommendations Stage are set out as follows:
 

Session	Date and Time	Venue
Session One Kowloon (Note 1)	December 5, 2018 (Wednesday) 3pm to 5.30pm	Hall, 1/F, Henry G Leong Yaumatei Community Centre, 60 Public Square Street, Yau Ma Tei
Session Two New Territories West (Note 2)	December 7, 2018 (Friday) 3pm to 5.30pm	Hall, Princess Alexandra Community Centre, 60 Tai Ho Road, Tsuen Wan
Session Three New Territories East (Note 2)	December 12, 2018 (Wednesday) 10am to 12.30pm	Hall, Hang Hau Community Hall, G/F, Sai Kung Tseung Kwan O Government Complex, 38 Pui Shing Road, Hang Hau, Tseung Kwan O
Session Four Hong Kong Island (Note 2)	December 15, 2018 (Saturday) 7.30pm to 10pm	Hall, 1/F, Duke of Windsor Social Service Building, 15 Hennessy Road, Wan Chai

Note 1: To be conducted in Cantonese, with Hong Kong sign language interpretation and Cantonese and English simultaneous interpretation.
Note 2: To be conducted in Cantonese, with Hong Kong sign language interpretation.

     The public consultation period of the Formulation of Recommendations Stage will commence on December 5, 2018, and last until April 4, 2019. Members of the public are welcome to express their views. Please visit the Consulting Team’s website (www.rs.polyu.edu.hk/rpp) for registration arrangements of the public consultation sessions, details of the seminars and methods for submitting views. Members of the public who have any views or enquiries may send email to the Consulting Team (rs.rpp@polyu.edu.hk). read more

     The Food and Environmental Hygiene Department (FEHD) announced today (November 19) that the monthly territory-wide ovitrap index for Aedes albopictus dropped further, from 6 per cent in September to 2.2 per cent in October… read more

     The effective exchange rate index for the Hong Kong dollar on Monday, November 19, 2018 is 105.6 (up 0.1 against last Saturday’s index).

     The effective exchange rate index for the Hong Kong dollar on Saturday, November 17, 2018 was 105.5 (down 0.2 against last Friday’s index). read more

     The Leisure and Cultural Services Department (LCSD) announced today (November 19) that Kwu Tung Grass Soccer Pitch in North District will be temporarily closed from November 21 to December 4 for turf maintenance works. During the cl… read more