www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Calls for US dollar peg review rejected in HK

(Agencies) Updated: 2012-11-15 10:36

Calls for US dollar peg review rejected in HK

Hong Kong Financial Secretary John Tsang rejected calls from lawmakers to review the city's 29-year-old dollar peg amid rising concern asset prices are being driven to unsustainable levels by record-low borrowing costs.

The exchange-rate system ties the city's monetary policy to that of the US, where the Federal Reserve is using near-zero interest rates to help the economy recover from a recession.

Linking the Hong Kong dollar to a basket of currencies won't have much effect on local rates, Tsang told the Legislative Council on Wednesday.

"It is not transparent enough and is more complex and hard to understand," he said. "A peg to a basket is still a fixed exchange-rate system and it also takes away an independent monetary policy. Interest rates wouldn't be much different from the current levels."

Hong Kong's home prices more than doubled in the past three years and have surpassed their 1997 peak, fueled by low interest rates and purchases by mainland buyers. The Hong Kong Monetary Authority bought a combined $4.2 billion of the US currency this month, defending the upper limit of the peg for the first time in three years, as a third round of asset purchases by the Federal Reserve boosted the supply of the greenback.

The peg "isn't the main reason" behind the pickup in capital inflows as other Asian countries are experiencing similar surges, Tsang said. His comments echoed those of the city's monetary chief Norman Chan, who said on Nov 9 that talk of so-called hot money flowing into Hong Kong to speculate on the yuan is "unfounded."

Hong Kong linked its exchange rate to the US dollar in 1983 when negotiations between China and the UK over the city's return to Chinese rule spurred capital outflows. In 2005, policy makers committed to limiting the currency's decline to HK$7.85 per dollar and capping gains at HK$7.75.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美久色 | 亚洲网站免费观看 | 亚洲成人免费在线视频 | 欧美色视频日本片高清在线观看 | 国产成人综合亚洲亚洲欧美 | 亚洲综合国产精品 | 久久有这有精品在线观看 | 久久国产精品永久免费网站 | 九九九九热精品免费视频 | 亚洲欧美一区二区三区在线观看 | 黄色网址视频在线观看 | 在线一区播放 | av片免费大全在线观看不卡 | 一级一级一片在线观看 | 欧美成人免费在线 | 免费中文字幕在线 | 2022国产精品自拍 | 国产成人在线小视频 | 亚洲成人美女 | 国产精品人成人免费国产 | 欧美综合精品一区二区三区 | 久久精品国产精品青草 | 亚洲国产人成中文幕一级二级 | 91情侣在线偷精品国产 | 亚洲专区欧美专区 | 三及毛片| 久久婷五月天 | 久久久黄色大片 | 亚洲国产日韩成人综合天堂 | 性夜黄a爽爽免费视频国产 性夜影院爽黄a爽免费看网站 | 国产精品欧美一区二区在线看 | 男人的天堂免费 | 在线视频观看免费视频18 | 蕾丝视频永久在线入口香蕉 | 国内真实愉拍系列情侣 | 黄色a网站| 亚洲香蕉久久一区二区 | 亚洲成人网页 | 91最新网站 | 男女那个视频免费 | a级国产乱理伦片在线 |