the first half,

(paragraph 3.10).

became fairly buoyant

demand for loans

Deposit rates for the Hong Kong dollar set

by the Hong Kong Association of Banks were revised on two

occasions: an upward revision in early April and a downward

revision in mid May (paragraph 3.15).

The differential

between Hong Kong dollar and US dollar interest rates narrowed

during the first half to about one percentage point in favour

of the latter by the end of June 1986 (paragraph 3.14).

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