Pantheon Macroeconomics

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Pantheon Publications

Below is a list of our Publications for the last 5 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep.

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Kelvin Lam (Senior China+ Economist)

4 July 2025 China+ Monitor Hong Kong dollar peg here to stay, despite talk of its demise

  • The HKMA intervened again on Wednesday to defend the currency peg, which has been in place since 1983.
  • The LERS is a double-edged sword: Hong Kong loses monetary policy freedom but gains stability.
  • Any talk of re-pegging the HKD is premature; China and HKSAR are not yet an Optimal Currency Area.
Kelvin Lam (Senior China+ Economist)China+
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independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence