The Hong Kong dollar has repeatedly tested the upper end of its peg with the US dollar this year. Photo: Reuters
Hong Kong’s low-interest rate regime will help the city’s stricken economy get back on its feet quickly
- HKMA is likely to keep its interest rate unchanged after the Federal Reserve indicated that its rates will remain close to zero until the end of 2022
- A total of HK$48.1 billion has flowed in Hong Kong market since April, forcing the HKMA to intervene 16 times in the market to defend the peg
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Hong Kong Monetary Authority (HKMA)
The Hong Kong dollar has repeatedly tested the upper end of its peg with the US dollar this year. Photo: Reuters