As MOP is linked to HK$, the movements of policy rates in Macao and Hong Kong should be consistent in order to maintain effective operation of the linked exchange rate system.
Hong Kong dollar
Rates for both the pataca and the Hong Kong dollar fell in 2020, mirroring an overall drop in the funding costs of local banking.
The number of personal credit cards issued by banks in Macau rose 8.8% year-on-year to 1.4 million at the end of last year.
The Monetary Authority of Macao has cut its benchmark interest rate by 25 basis points, following an identical decision six weeks ago.