HK Monetary Authority gov on the wires
- reiterates determination to keep HKD peg
- HK economy faces challenges
- HK banks loan growth slowed
- HK property market outlook unclear
- respects HSBC decision to keep HQ in London
That last one said through gritted teeth methinks.
The Hong Kong $ is pegged at 7.80 vs USD but can trade between 7.75-7.85. However under the rules of the peg the HKMA is obliged to step in when either extreme is traded to keep the band intact.
