| Abstract | The last quarter of 1995 saw a very stable Hong Kong dollar amidst turbulence in the international financial markets. These included, for example, the Daiwa incident and the re-emergence of the Mexican financial problems. Following announcement of the US Fed funds rate cut in December, retail deposit and best lending rates in Hong Kong were reduced accordingly. The inauguaral issue of 7-year Exchange Fund Notes was launched in November. The Central Moneymarkets Unit Service successfully introduced its end-of-day delivery against payment facility in December. |
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