HKMA Quarterly Bulletin (May 2002 Issue)

The Hong Kong Monetary Authority (HKMA) today (Thursday) published the latest issue of its Quarterly Bulletin. This issue contains feature articles on:

• Comparing Flexibility in Argentina and Hong Kong - comparing the two economies in terms of internal flexibility, a key factor for sustaining any fixed exchange rate, on various dimensions.
• Definition of Money Supply - setting out a revision to the definition of money supply to include all Exchange Fund placements in money supply statistics.
• Guideline on Regulation of Advertising Material for Deposits Issued over the Internet - providing a summary of Guideline content and explaining the HKMA's approach to enforcement.
• Why Blame the Peg? - assessing Hong Kong's economic performance under the Linked Exchange Rate system and addressing criticisms about the Link.
• Who or What Determines Monetary Policy in Hong Kong? - reviewing some key aspects of the determination of monetary policy in Hong Kong.

The Bulletin also carries regular articles on the banking and monetary environment during the first quarter of 2002.

The Quarterly Bulletin is on sale at the Government Publications Centre. It may also be ordered direct from the HKMA at $100 per copy. The full text of the Quarterly Bulletin is available on the HKMA website http://www.info.gov.hk/hkma/eng/public/index.htm.

For further enquiries, please contact:

Thomas Chan, Senior Manager (Press) at 2878 1480 or
Sylvia Yip, Manager (Press) at 2878 1687

Hong Kong Monetary Authority
30 May 2002