Hong Kong’s Dollar Peg Is ‘Unassailable,’ StanChart CEO Says
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Standard Chartered Plc Chief Executive Officer Bill Winters said Hong Kong dollar’s peg to the greenback is “unassailable” at a time when the U.S. has threatened action against China for imposing a national security law on the former British colony.
“The Hong Kong peg is extremely well-supported with monetary reserves in Hong Kong,” Winters said in a Bloomberg Television interview Thursday. “Attempts to undermine Hong Kong I’m afraid would have some pretty deleterious effects on the financial system more broadly and it’s hard to see any policy maker in the world thinking that’s a good thing to do anytime, but particularly now, during a pandemic.”