Decision on HKMA staff wage cuts Thursday
Citing a source from the Exchange Fund Investment Committee, the paper said the HKMA has submitted a proposal to cut overall wage expenses by 5%, by leaving basic wages unchanged and cutting performance-based bonuses by 40%.
HKMA Chief Executive Joseph Yam refused to comment, the paper said.
The move
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Trump says Powell would resign as Fed chair ‘if I told him to’
President-elect also claims tariffs would make US rich but cannot guarantee that prices will not rise
Reserve Bank of Australia holds policy rate again
Central bank softens hawkish stance amid weak economic growth and slowing inflation
China shifts to ‘moderately loose’ monetary policy stance
Officials also vow to pursue “more proactive” fiscal stance next year
Reserve Bank of India holds policy rate
Governor says decision reflected need to tackle high inflation without stymying “resilient” growth
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
Inflation targeting regime needs reform – BIS paper
Authorities should recognise what monetary policy can and cannot do, argues Claudio Borio
Reserve Bank of Zimbabwe maintains interest rates at 35%
Central bank keeps policy tight following September devaluation and spike in inflation
Pan: PBoC will continue ‘supportive’ policy next year
Central bank also expands M1 definition as governor Pan Gongsheng signals continued stimulus