BLBG:Standard Chartered’s Peace Says Dollar Peg Served Hong Kong Well
John Peace, chairman of Standard Chartered Plc (2888), comments on Hong Kong’s exchange rate system at a press conference today.
On the Hong Kong dollar’s peg to U.S. currency:
“These are very uncertain times. I think the peg to the dollar has served Hong Kong very well in the last 10-20 years. And it’s far too premature to start talking about linking it to some other currency or some other basket of currency.
‘‘At this time, given all the uncertainties in the world today, what Hong Kong has done so far in managing the economy has worked well and I simply wouldn’t change it at the time.”
To contact the reporter on this story: Stephanie Tong in Hong Kong at stong17@bloomberg.net
To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net
