TNAG-1724-FCO40-2437-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 186

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10.

Members will have observed that the mere threat

of implementing negative interest rates has apparently been effective in deterring recent speculation. (The

the

mark

exchange rate is now happily at around $7.80/and interbank

Hong Kong dollar interest rates have gradually been

firming up as speculators unwind their positions at considerable loss to themselves.)

f