Tax-certificate rate cut
The Secretary for the Treasury has announced a reduction in the rate of interest payable on Tax Reserve Certificates from 4.8208 per cent to 4.2708 per cent. The new interest rate will be effective on certificates purchased on or after Monday. The rate is revised periodically in line with the market. It is also reviewed every month based on the average of the prevailing six-month time-deposit interest rates for HK$100,000 offered by the three note-issuing banks.