No noticeable fund outflows amid protests – HKMA

Exchange Fund sufficient to back currency in case of capital outflows, central bank says

Hong Kong protests August 2019
Hong Kong protests: banking system remains stable, says HKMA
Studio Incendo

There have been no noticeable outflows 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 weakness in the HK dollar.

“[The linked exchange rate system] has served Hong Kong well

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