This is not the passive , static role that it may seem , as the maintenance of a rule - based monetary system in the form of the link misleadingly suggests 维持联汇制度这样的规范化货币制度的职责有时会令人产生错觉，以为金管局的角色是被动及一成不变的。
Confidence in the link had been reinforced during the year by statements from the hong kong sar government that it had no plans to change the linked exchange rate system 年内特区政府明确表示没有计划更改联系汇率制度，进一步巩固市场对联汇制度的信心。
Many echoed my comments , but in varying degrees of intensity , ranging from merely noting the risk and dismissing it , to magnifying it and predicting doom for our currency link 我的意见引来很多回响，由置之不理，以至夸大风险并预言联汇制度将会崩溃都有。
There have in fact been considerable modifications made to the system over the years , all with the objectives of strengthening it and enhancing its sustainability 事实上，过去多年来联汇制度曾作过不少改革，但目的全都是为了强化联汇制度，确保它可以持续推行。
Since that link has again become quite topical over recent weeks , i thought you might be more interested if the focus of this talk was on the link 由于过去几个星期，联汇制度再次成为热门话题，因此我想若今次的演讲比较集中讨论联汇制度，大家可能会觉得比较有趣味。
Internal price deflation is indeed a part - and a necessary part - of the process of adjustment imposed on the economy under the link when there is a fall off in external demand 内部物价下跌其实是在联汇制度下，当外部需求减少时经济进行调整的部分过程，这也是必要的过程。
I have spoken and written at length on other occasions about the huge risks to financial and social stability that we would expose ourselves to in following such a course 我曾在不同场合发表演辞及文章，详细讨论若真的放弃联汇制度或改变挂汇率，本港的金融及社会稳定会面对多大的风险。
