External view of Hong Kong Monetary Authority at International Financial Centre, Central. Photo: Handout
External view of Hong Kong Monetary Authority at International Financial Centre, Central. Photo: Handout

Hong Kong defends local dollar in first currency intervention in 18 months, as capital flows out in pursuit of higher US yields

  • The HKMA bought a combined US$722 million worth of Hong Kong dollars in two interventions on Thursday
  • Such a trend will gradually push interest rates up, including mortgage rates in Hong Kong, ANZ executive says

External view of Hong Kong Monetary Authority at International Financial Centre, Central. Photo: Handout
External view of Hong Kong Monetary Authority at International Financial Centre, Central. Photo: Handout
READ FULL ARTICLE