HK Monetary Authority gov on the wires

  • reiterates determination to keep HKD peg
  • HK economy faces challenges
  • HK banks loan growth slowed
  • HK property market outlook unclear
  • respects HSBC decision to keep HQ in London

That last one said through gritted teeth methinks.

The Hong Kong $ is pegged at 7.80 vs USD but can trade between 7.75-7.85. However under the rules of the peg the HKMA is obliged to step in when either extreme is traded to keep the band intact.