MACAO, Sept. 27 (Xinhua) -- Macao's Base Rate of the Discount Window has raised by 25 basis points to 2.5 percent, the third time to do so this year, the Monetary Authority of Macao (AMCM) announced on Thursday.
As the pataca is closely linked to the Hong Kong dollar, the movements of policy rates in the Hong Kong Special Administrative Region (SAR) and the Macao SAR should be basically consistent in order to maintain the effective operation of the linked exchange rate system, the AMCM said.
The uptrend of local money-market interest rates has become more obvious since the base rate was upwardly adjusted twice with a total of 50 basis points in the first half of this year, it added.
The Macao SAR government reiterated that future hikes in lending rates would directly increase borrowers' financial burden, and the public should prudently assess their repayment abilities and act within their means before deciding to take out any loans, the AMCM said.
