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為何多人沽港元而買美元,市面少左港元, supply 下降會引致利息上升至接近美元為止
為何多人沽港元而買美元,市面少左港元,supply下降會引致利息上升至接近美元為止？為何香港通常要跟隨美國利息上落呢？為何與以下因素有關？1因為同業拆息！2因為要刺激經濟！3因為港元同美元掛勾！為何減低投資數字，把金融體系的資金轉移到銀行體系？何謂金融體系？何謂銀行體系？
WhenUSinterestraterises,theinterestratedifferentialcausesmoneyflowingfromHKtoUS.ThispullsupthepriceofUSdollars.thereisanarbitragebetweenthelinkedrateandthemarketrate.ThebankwillreturnCertificatesofIndebtednesstogetUSdollarfromtheExchangeFundatlowerlinkedrate,andthensellitinthemarketatahighpriceinthemarkettoearnfromthearbitrage.Inordertodoso,thebanksneedtogetmoreHKdollars,bybuyingupHKdollarsinpublic,orcallingbackloans,whichlowersthemoneysupplyinHK.Whenmoneysupplyfalls,themoniesheldfortransactionandspeculativepurposesbothfall,leadingtoincreaseininterestrate.Aslongasthereisinterestratedifferentialcreatingarbitragegaingreaterthantransactioncost,theprocesswillcontinuewhichpullsuptheinterestrateofHKclosetoUSlevel.Theincreaseininterestratecutsdownconsumptionandinvestment.Aggregateexpenditurefallsandthroughmultipliereffect,thenationalincomealsofalls.ThereisacontractionaryeffecttotheHKeconomy.因為利息會影响資本帳的資金流動,從而影响匯價,因為聯繫匯率關係,為了維持港元和美元維持在一個固定的水平,所以才要香港的利息要跟...另外,多人沽港元個supply,貨幣供應是不會下降的,因為你賣出,就有人買入,,這不是其中一個影响,影响貨幣供應的因素真正推高港息口的原因是因為金管局推高同業拆息,令銀行的借貸成本增加,所以才加息這是出名的"任一招"
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https://answers.yahoo.com/question/index;_ylt=AwrtXG5TsPRbpzgAFDXXrYlQ;_ylu=X3oDMTBvbmNxZGQ2BGNvbG8DBHBvcwM4BHZ0aWQDBHNlYwNzcg--?qid=20061013000051KK03633