HKMA to cut budget and freeze headcount – media report
De facto central bank could be latest to join belt-tightening campaign by Hong Kong institutions
The Hong Kong Monetary Authority (HKMA) has proposed scaling back spending and freezing its headcount in what could be the latest in a series of cost-cutting drives by the territory’s institutions, a news outlet has reported.
Citing an internal document, the Hong Kong Economic Journal reported today (July 28) that the de facto central bank is planning to reduce by 5% its current “general operating costs” for the 2026 financial year, which runs from the start of next April. These costs include
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