TNAG-0735-FCO40-939-Policy-objective-for-the-developing-of-Hong-Kong-in-the-1980-1978 — Page 131

Debate on the Governor's Annual Address

Speech by the Honourable the Financial Secretary

in Legislative Council on Thursday, 16th November 1978

Introduction

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Summary

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REDAVAN

PARAGRAPHS

RAPHS

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Inflation

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ction Texei

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3

(1) Unofficial Members' worries

(2)

Measurement of "inflation":

(a)

General price level

(b)

Consumer prices

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(c)

Prices of investment goods

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(a)

Prices of imported raw materials and semi-manufactures

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(e) Wage rates, profit margins and

export prices

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(3)

(4)

Absence so far of imported inflation Incipient threat of inflation:

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(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)

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-

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Control of the money supply Management of the public finances

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