No noticeable fund outflows amid protests – HKMA
Exchange Fund sufficient to back currency in case of capital outflows, HKMA says
There has been no noticeable outflow of funds from the Hong Kong dollar and the amount of deposits in the banking system remains stable, as turmoil and protests continue in the city, the Hong Kong Monetary Authority (HKMA) says.
The city’s de facto central bank says it has no plans for monetary stimulus, as Hong Kong’s linked exchange rate system prioritises currency stability and there is no sign of Hong Kong dollar weakness.
“[The Linked Exchange Rate System] has served Hong Kong well
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