Debate on the Governor's Annual Address
Speech by the Honourable the Financial Secretary
in Legislative Council on Thursday, 16th November 1978
Introduction
I
Summary
L_HKK_013/44...59
REDAVAN
PARAGRAPHS
RAPHS
1
Inflation
A
ction Texei
2
3
(1) Unofficial Members' worries
(2)
Measurement of "inflation":
(a)
General price level
(b)
Consumer prices
5
6
(c)
Prices of investment goods
7
(a)
Prices of imported raw materials and semi-manufactures
8
(e) Wage rates, profit margins and
export prices
9
11
(3)
(4)
Absence so far of imported inflation Incipient threat of inflation:
12
13
(a)
(5)
(a)
(b)
(c) Changes in interest rates
(a)
(6)
Depreciation of the Hong Kong dollar
(b) Pressure of domestic demand
(c) Adverse trade balance and tourism
Growth of the money supply:
Determinants
Statistics (M2)
14
15
18
19
20
21
22
-
24
25
26
27
29
Control of the money supply Management of the public finances
30
31
32
- 35
i
14