The Macau Monetary Authority raised its base rate by 75 basis points to 3.5 percent on September 22nd, 2022, following its Hong Kong counterpart's move and tracking a hike in the US Federal Reserve funds rate. This was the fifth rate hike this year, bringing borrowing costs to the highest level since September 2008. "As the pataca is linked to the Hong Kong dollar, the movements of policy rates in Hong Kong and Macau should be basically consistent in order to maintain the effective operation of the linked exchange rate system," the Monetary Authority of Macau said in a statement. The Macau Economic Association recently has warned that the economy in the next three months would remain at a "poor” level, amid local enterprise operation difficulties, high unemployment rate, decreased residents’ income, and rising non-performing loan ratio of residents and non-residents. source: Monentary Authority of Macao
Interest Rate in Macau averaged 2.44 percent from 2000 until 2022, reaching an all time high of 8 percent in May of 2000 and a record low of 0.50 percent in December of 2008. This page provides the latest reported value for - Macao Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Macau Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Interest Rate in Macau is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Macau Interest Rate is projected to trend around 4.25 percent in 2023 and 4.00 percent in 2024, according to our econometric models.