Hong Kong Finance Minister’s Statement

Author: | Published: 19 Oct 2018

Amid a synchronised expansion of the global economy, the Hong Kong economy grew notably by 3.8% in 2017, the fastest pace in seven years. The labour market remained in a state of full employment, with the seasonally adjusted unemployment rate falling to a near-20-year low of 2.9% in the fourth quarter of 2017. Inflation pressure remained well contained, with headline inflation moderating to 1.5% last year.

The Linked Exchange Rate System (LERS) continued to serve as an anchor for Hong Kong's monetary and financial stability. While the Hong Kong dollar eased gradually against the US dollar during the year amid carry trade activities, it continued to...