Before ending my speech, I would like to point out that the Hong Kong Association of Banks has contributed a lot in assisting the HKMA to ensure the financial stability of Hong Kong.
In those economies, while policy interest rates have been raised and lending restraint measures have been taken, the authorities have been forced to perform difficult maneuvers on those policy measures. If the restraint measures are too strong, it would be a sudden brake on the main engine of those economies.