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2nd Jul 2025 10:15China+Daily Monitor

  • 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.

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Keywords for: 4 July 2025 China+ Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence