中等ECON-FISC-007
The US Federal Reserve is raising rates while Hong Kong domestic demand is weak. Under the currency board, the HKMA:
A. Can set any Hong Kong dollar interest rate because the currency floats
B. Must move the weak-side undertaking from 7.85 to 7.75
C. Cannot cut the Base Rate independently to stimulate Hong Kong without undermining the link✓ 答案
D. Uses fiscal reserves as a monetary-base instrument to refix the US rate
解說
Hong Kong's currency board links the HKD to the USD inside about 7.75–7.85. Local interest rates follow US rates. The HKMA does not have an independent monetary policy like a floating-rate central bank. The weak side stays at 7.85.