IMF backs HK peg weeks after bubble warning


The International Monetary Fund (IMF) on Wednesday said Hong Kong's peg to the dollar remained appropriate as an anchor for monetary and financial stability.

Hong Kong pegs its dollar to the greenback at a rate of HK$7.80 to $1.

The Fund said after an Article IV consultation that directors "generally considered" the peg appropriate and the real effective exchange rate to be "broadly in line with economic fundamentals." However, the Fund called on Hong Kong to introduce countervailing prudential

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