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WEDNESDAY, MAY 18, 1994
LIQUIDITY ADJUSTMENT FACILITY BID AND OFFER RATES GO UP
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THE HONG KONG MONETARY AUTHORITY ANNOUNCES THAT, IN LINE WITH THE RISE IN DISCOUNT RATE AND THE FED FUNDS RATE BY HALF OF A PERCENTAGE POINT IN THE U.S IT HAS RAISED ITS LIQUIDITY ADJUSTMENT FACILITY (LAF) BID AND OFFER RATES FROM 2 PER CENT AND 4 PER CENT ΤΟ 2.5 PER CENT AND 4.5 PER CENT RESPECTIVELY WITH IMMEDIATE EFFECT.
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THE BID AND OFFER RATES EFFECTIVELY SERVE AS THE FLOOR AND CEILING FOR OVERNIGHT INTEREST RATES IN THE HONG KONG INTERBANK MARKET.
"THE RISE IN LAF RATES MIRRORS THE RISE IN DISCOUNT RATE IN THE UNITED STATES. CHANGES IN BEST LENDING RATES WILL BE UP TO INDIVIDUAL BANKS TO DETERMINE.
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"THE HONG KONG ASSOCIATION OF BANKS WILL SIMILARLY DECIDE ON DEPOSIT INTEREST RATES WHEN THE COMMITTEE MEETS, A SPOKESMAN FOR THE HONG KONG MONETARY AUTHORITY SAID.
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PASSENGER DEMAND ALONG NATHAN ROAD CORRIDOR CLOSELY MONITORED
JOINT EFFORTS HAVE ALWAYS BEEN MADE BY THE GOVERNMENT AND THE MASS TRANSIT RAILWAY CORPORATION (MTRC) TO CLOSELY MONITOR THE MTR DEMANDS AND THE FLOWS ON OTHER TRANSPORT MODES ALONG NATHAN ROAD CORRIDOR, AND TO TAKE APPROPRIATE MEASURES TO PROVIDE SUFFICIENT CAPACITY TO MEET THE DEMAND.
SPEAKING AT THE INAUGURATION CEREMONY OF TELFORD GARDENS EXTENSION AND MTRC HEADQUARTERS REDEVELOPMENT TODAY (WEDNESDAY), THE COMMISSIONER FOR TRANSPORT, MR RAFAEL HUI, SAID PATRONAGE ON THE NATHAN ROAD CORRIDOR HAD ALWAYS BEEN HIGH IN THE SOUTHBOUND DURING THE MORNING RUSH HOUR.
AND THE PASSENGER TRAFFIC ALONG THIS CRITICAL FORECAST TO CONTINUE TO GROW STEADILY, HE SAID.
HE SAID THE MTRC IMPLEMENTED PRICING MEASURES TO DEMAND BETWEEN THE TWO MTR CROSS HARBOUR LINKS AS WELL LONGER INTERVAL WITHIN THE MORNING PEAK HOURS.
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"MORE RECENTLY, THE CARRYING CAPACITY ALONG THE SOUTHBOUND NATHAN ROAD CORRIDOR HAS BEEN INCREASED FROM 77,500 TO 80,000 PER HOUR THROUGH THE OPERATION OF AN ADDITIONAL TRIP STARTING FROM MAY 2.
"THIS HAS BROUGHT CONSIDERABLE RELIEF TO THE MTR CONGESTION ALONG NATHAN ROAD CORRIDOR," HE SAID.
ON THE PART OF THE GOVERNMENT, MR HUI SAID COMPREHENSIVE ACTION PLANS HAD BEEN DRAWN UP TO COPE WITH THE PASSENGER DEMAND.
/SINCE 1990,