HKMA comments on their intervention in currency market

Author: Eamonn Sheridan | Category: Central Banks

Earlier news (via Bloomberg) that Hong Kong Monetary Authority (HKMA) intervened in the HK dollar market

  • The HKD had fallen to the low end of its permitted trading band
Comments now from HKMA deputy chief executive Howard Lee:
  • HKMA is prepared to deal with capital outflows
  • HK banking system has ample liquidity
  • Expects interest rates to rise incrementally

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