ཡས་མན་་་ཁ་**
JAN 28 93 11:13 UKDEL
FCO 2
TUE 26 JA 93 13:20
PG.66
GOVERMENT HOUSE HONG KONG.
TUE 26 JAN 93 29:01
PG.89
(C)
CONFIDENTIAL
kaa
its
athered financial and political crises since
introduction in 1983 and nas proved an effective maintain the stability of the
Ek Dollar,
(monetary anchor
jexchange rate of
(B)
HK
Authorities acknowledge
acknowledge the accompanying
the linked exchange rate policy
the
Current negative reel interest rate situation, and the
raint
use of monetary policy to contain infictionI+ However, given that; Hong Kong's inflation
prises mainly trum
ìl evolution of its
CONCRY and with political changes on the berizon and the THOR OF INCEZE uncertainties, the Authorities firmly believe that the linked exchange rate aystem crucial to mixtaining confidence in its currency, is of prime importance in maintaining the ability and prosperity of HK,
X AuthoritiCE elcome the fund staff's support `
kument of the Hong Kong Monetary
gothority which will enhance monetary management and
Hanking supervision by strengthening
epipertise and analytical capabilities.
technical
P.1/6
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