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Eddie Yue gets 2nd HKMA term to lead Hong Kong’s de facto central bank through complexity
- Yue’s second term begins in October, according to a statement by the HKMA
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Hong Kong’s government has appointed Eddie Yue Wai-man to a second five-year term as the city’s de facto central banker, entrusting one of the first employees of the Hong Kong Monetary Authority (HKMA) with the job of charting a course through a complex financial landscape.
The second term for Yue, who joined the HKMA at the time of its establishment in 1993, will commence in October, according to a statement.
“I am confident that Eddie will continue to lead the HKMA effectively in the coming five years, and make further contributions to Hong Kong’s financial, economic and social progress,” said Financial Secretary Paul Chan Mo-po, in announcing the reappointment of his fellow alumnus of the Chinese University of Hong Kong (CUHK).
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Yue’s first term coincided with one of the most tumultuous periods in Hong Kong’s financial history, when interest rates soared from zero to a 13-year high of 5.75 per cent while the local economy was battered by street protests in 2019 and three years of the Covid-19 pandemic.
“I am honoured to be given the opportunity to continue to serve Hong Kong in this important role and grateful for the Financial Secretary’s confidence and trust in me,” Yue said in a statement.
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