Head of the Hong Kong Monetary Authority (HKMA) Norman Chan

  • Says HKMA will buy HKD when it touches the weak end of its trading band
  • Will ensure HKD will go no lower

ps. Not there yet ....

As noted yesterday ICYMI:

  • The HKD is pegged to the USD (Hong Kong Monetary Authority peg is at 7.8, allows it to trade between 7.75 and 7.85)

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Also ICYMI - I posted this a few weeks ago, probably worth a review:

HSBC have noted the HKMA have tools:

  • the discount window
  • direct intervention in the FX market
  • and a mandate introduced in 1988 (still unused) allowing the HKMA to impose negative nominal interest rates should speculative flows become to great