Hong Kong dollar
Hong Kong and Thailand to set up cross-border payments link
New QR code payment link is the latest addition to similar initiatives in the region
Hong Kong to study ‘e-HKD’ at retail level
Hong Kong will begin study on retail CBDCs and work with PBoC on e-CNY in the next year
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021, despite CFTC saying 2,400 companies still exposed and Fed extending some US libor contracts until mid-2023
HKMA sets new Libor transition milestones for banks
Nearly all banks have transition plans but risks from benchmark reform continue to build up in the banking system, HKMA warns
Central banks turn to Instagram to reach younger generations
The audiovisual social media network is helping some central banks offer financial education and other campaigns for millennials and Gen Zs
BIS: forex volumes rise to $6.6 trillion as London trading soars
While the UK capital reinforces its prominence in forex markets, trading in Asian currencies heats up
Pressure on Hong Kong dollar set to continue despite a dovish Fed
HKMA intervenes to defend peg, with pressure looking likely to continue
The ‘great fintech wall of China’?
Deploying fintech wrappers could help to solve part of the People’s Bank of China’s capital control dilemma; trials possible in Greater Bay Area
HKMA spends over $2 billion to defend local currency
Hong Kong dollar fell to hit lower limit of its 7.75-7.85 peg to US dollar
HKMA buys HK dollar for first time in 13 years
HKMA chief says central bank is “fully capable” of defending local currency
Hong Kong seeks mobile wallet capabilities in China
Authorities in drive to ensure Hong Kong mobile phone e-payments work in China; faster payments roll-out due next year but no urgent rush to go cashless, says HKMA official
HKMA rolls out initiatives to promote ‘smart banking’
Hong Kong authority plans upgrade of supervisory sandbox and modified virtual banking guidelines; real-time retail payment system will be one of first to offer immediate settlement
HKMA’s investment team “on guard” for turbulence later in the year
HKMA deputy chief executive warns of an undercurrent of market uncertainties in the second half of the year, after fund made record returns in the first half
Analysts see Hong Kong peg under scrutiny
Hong Kong dollar reached lowest level in nearly a decade this week, putting long-standing peg ‘under fresh scrutiny' and prompting fears of possible attack
HKMA hikes rates as Asia takes Fed decision in stride
Hong Kong raises rates for first time in over nine nears as regional markets remain calm; Norman Chan warns of capital outflows and ‘possible shocks' ahead
Hong Kong 'coin carts' rake in cash
Hong Kong Monetary Authority trucks will collect coins from the public; so far, 87,000 people have traded in 78 million coins worth HK$77 million
HKMA launches new liquidity facility
Discount facility for government bonds aims to provide greater flexibility for banks in meeting liquidity needs; HKMA also moves to ‘streamline’ bond tenors
Hong Kong protests trigger emergency action by HKMA
HKMA activates its business continuity plan and takes extraordinary measures to maintain stability as thousands of pro-democracy protesters take to the streets
HKMA chief rejects use of $400bn fund for social purposes
Norman Chan says the HKMA’s exchange fund is the ‘last line of defence’ for financial stability and should be maintained as a buffer against ‘unforeseeable shocks and crises’