Policymakers in Hong Kong have been riding their luck. They can be thankful for a dovish US Federal Reserve, which cut rates three times last year. That reduced the pressure on the Hong Kong dollar at a time of deepening political crisis in the Chinese territory. As the Hong Kong Monetary Authority runs out of options, the question is how long its currency can hold the line.
香港的政策制定者一直在倚仗運氣。他們可能會感謝鴿派的美聯儲(Fed)去年3次降息。在這個中國領地的政治危機不斷加深之際，這減輕了港元的壓力。隨著香港金融管理局(Hong Kong Monetary Authority)的選擇越來越少，問題是港元能挺多久。
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