HKMA Quarterly Bulletin (August 2002 Issue)

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

• Banking Lending and Property Prices in Hong Kong - studying the relationship between property prices, bank lending and macroeconomic fluctuations in Hong Kong.
• What Drives Property Prices in Hong Kong? - presenting an empirical model of property prices that combines fundamental variables with speculative bubbles.
• Hong Kong's Currency Board Today: The Unexpected Challenge of Deflation - examining the underlying forces behind recent price deflation in Hong Kong.

The Bulletin also carries a Supervisor's Memo outlining participating authorized institutions' reporting treatment of loans covered by the Home Owner Mortgage Enhancement Programme, and regular articles on the banking and monetary environment during the second 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:

Jasmin Fung, Manager (Press) at 2878 8246
Sylvia Yip, Manager (Press) at 2878 1687

Hong Kong Monetary Authority
30 August 2002