Hong Kong’s monetary policy moves in lock-step with the United States’ as the city’s currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar.HKMA said U.S. rate hikes will not affect the financial and monetary stability of Hong Kong, and the city’s financial and money markets will continue to operate in a smooth and orderly manner, while the Linked Exchange Rate System continues to work well.
The city’s de facto central bank said the Hong Kong dollar interbank rates will rise further if the United States continues to hike interest rates.
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