HKMA faces debate on performance

A Democratic Party motion condemning the Government's decision to intervene in the stock and futures markets has set the stage for the first wide-ranging political debate on the action.

In yesterday's motion, Democratic legislator Albert Ho Chun-yan claims the Hong Kong Monetary Authority (HKMA) 'repeatedly erred in its efforts to maintain the linked exchange rate system' and failed 'to introduce timely measures to strengthen the currency board arrangements'.

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