https://finance.yahoo.com/news/hong-kong-steps-defend-peg-224736691.html
The HKMA has to either intervened in the currency market or up the interest rates. As the interest rate hikes will disrupt the property market, it is safer to intervene in the currency market.
If you want to know more about the HKD depreciation, please read our previous post below.
https://sg-stock.blogspot.com/2019/03/hong-kong-dollar-has-been-depreciating.html
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