联系汇率制度

本港的联系汇率制度是一种货币发行局制度。

Hong Kong 's Linked Exchange Rate system is a Currency Board system .

这个清晰的货币政策目标是通过联系汇率制度实现的。

This clear monetary policy objective is achieved through the linked exchange rate system .

分析师表示，由于联系汇率制度，港元作为一种可靠的美元代理货币，正受益于安全转移（flighttosafety）：除日元以外，美元兑大多数主要货币汇率均出现飙升。

Analysts say that the Hong Kong dollar , as a reliable US dollar proxy because of the peg , is benefiting the flight to safety that has seen the greenback soar against most major currencies except for the yen .

香港金管局（HKMA）昨日被迫买进逾10亿美元，以捍卫港元盯住美元的联系汇率制度，由于需求强劲，港元持续试探其兑美元交易区间上轨。

The Hong Kong Monetary Authority had to buy more than US $ 1bn yesterday to defend the local currency 's peg to the US dollar as the Hong Kong dollar continued to test the upper limit of its trading band on strong demand .

港元联系汇率制度利弊析

Analysis on Advantage and Disadvantage of Pegged-exchange-rate System in Hong Kong

这促使香港金管局入市干预，以捍卫联系汇率制度。

This prompted intervention from the HKMA to defend the peg .

香港现行的联系汇率制度受到的压力与日俱增。

The strains on the current dollar peg are growing by the day .

香港联系汇率制度的利弊及其改进

The advantages and disadvantages of the relation exchange rate system in HongKong and the improved countermeasures

67.保持本港经济稳定的另一项重要因素，是我们的联系汇率制度。

67 . Another element fundamental to our continued economic stability is the linked exchange rate .

最近推出的优化联系汇率制度运作的措施能达到预期效果。

The recent refinements to Hong Kongs linked exchange rate system have had their intended effect .

联系汇率制度是保持香港金融和财政稳定的要素。

Hong Kong 's linked exchange rate regime is the anchor of our monetary and financial stability .

在欧洲以外，阿联酋已经考虑放弃美元联系汇率制度。

Outside Europe , the United Arab Emirates has flirted with the idea of dropping its dollar peg .

虽然香港仍然维持着独立的货币，但这种联系汇率制度使之与美国构成了一个货币联盟。

Although Hong Kong maintains a separate currency , that currency link creates a monetary union with the US .

在保险公司已在疲于应对低收益率之际，任何偏离盯住美元的联系汇率制度的举措都将产生重大影响。

Any move away from the peg would have significant implications when insurers are already contending with low yields .

博士又表示，联系汇率制度成功为香港带来货币稳定。

Dr Fischer added that the linked exchange rate system in Hong Kong had succeeded well in bringing monetary stability .

但曾俊华承认，由于联系汇率制度，在遏制通胀方面，他被束缚住了手脚。

But Mr Tsang admits that because of the peg , his hands are tied when it comes to fighting inflation .

香港的主要货币政策目标，是在联系汇率制度下维持汇率稳定。

The overriding monetary policy objective in Hong Kong is the maintenance of exchange rate stability under the linked exchange rate system .

沙特央行先前曾排除改变联系汇率制度的可能性，称美元走软对通胀的影响相对较小。

The central bank has previously ruled out changing the peg , saying the effect of dollar weakness on inflation was relatively small .

他们又获悉在联系汇率制度下，利率与实质汇率的变化均属外在因素。

They further noted that under the linked exchange rate system , movements in both interest rates and the effective exchange rate were exogenous .

放弃联系汇率制度，很可能导致大量资金外流，把利率推上更高水平，甚至引发港元信心危机。

Without it we would run the risk of major capital outflows , even higher interest rates and a crisis of confidence in our currency .

中国香港是世界金融中心之一，实行联系汇率制度至今已经整整30年了。

Hong Kong in China is one of financial centers in the world , which has implied the linked exchange rate system for thirty years .

反之，联系汇率制度有利于港元币值稳定，亦即是确保营商环境的稳定。

On the contrary , the linked exchange rate system stabilizes the value of Hong Kong dollar , which is to ensure a stable business environment .

每当消费物价大幅变动，不论上升或下跌，往往便会有较多关于联系汇率制度的讨论。

During the times of significant movement in consumer prices , whether up or down , discussion about the linked exchange rate system tends to increase .

这些改革措施使货币基础至关重要的部分受到货币发行局制度约束，巩固了联系汇率制度。

These reform measures subjected this crucial part of the monetary base to the discipline of the currency board arrangement and strengthened the linked exchange rate system .

在海湾石油出口国中，美元联系汇率制度迫使这些过热经济体让其本币的贸易加权汇率贬值，而其本币升值可能更好。

In the oil exporting countries of the Gulf , dollar pegs force these overheating economies to depreciate on a trade-weighted basis when appreciation would be better .

最明显的是，港元盯住美元的联系汇率制度（可能仍将保持不变），意味着香港的主要利率不得不追随美国的相应利率。

Most obviously , the currency peg ( which is likely to remain intact ) means Hong Kong prime rates are obliged to track those of the US .

完善香港联系汇率制度的探讨幸好，香港一直本著捍卫香港联系汇率制度的稳定为大前提，才能保持著香港经济和社会的稳定。

Fortunately , Hong Kong protects the " Linked Exchange Rate System " to be the first responsibility that kept the safety of Economy and Society of Hong Kong .

因此，港元与人民币挂钩的联系汇率制度暂不可行，原因是人民币现时仍未能自由兑换。

The feasibility of linking the Hong Kong dollar and the RMB under the exchange rate system is temporarily not feasible because the RMB is not yet freely convertible .

同时因为联系汇率制度的关系，香港要跟随美国的货币政策，但香港与美国的经济周期却并不一定同步。

The link ties Hong Kong and the US monetary policy at times when the economic cycles of Hong Kong and the US may not necessarily be moving in tandem .

第二，任何市场操作的主要目标都应该是维持在联系汇率制度下的汇率稳定及外界对此制度的信心。

Secondly , the primary objective of any operations should be to preserve exchange rate stability implied by the linked exchange rate system and to maintain confidence in the system .