Electronic boards display various stock prices at Exchange Square in Hong Kong on March 9, 2020.
(ISAAC LAWRENCE / AFP)
HONG KONG – Hong Kong's money markets continue to operate smoothly, with ample liquidity in the banking system, the Hong Kong Monetary Authority (HKMA) said Thursday.
An HKMA spokesperson said in a statement that the Hong Kong dollar exchange rate and interest rates remain steady, after the US Federal Reserve indicated that it might announce reducing asset purchases soon.
READ MORE: US Fed signals tapering could start 'soon' despite uncertainty
The Fed on Wednesday kept its benchmark interest rate unchanged at the record-low level of near zero, while signaling it may begin tapering asset purchases soon despite the Delta variant increasing economic uncertainty.
The public should stay vigilant about potential market volatility and risks, the HKMA spokesperson said, promising continued efforts to monitor market developments and maintain monetary and financial stability.
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