Hong Kong Monetary Authority - HKMA

DEFINITION of 'Hong Kong Monetary Authority - HKMA'

The central bank of Hong Kong. Established in 1993, the HKMA's main purpose is to control inflation and maintain the stability of the Hong Kong dollar (HKD) and of the banking sector through its monetary policy. The HKMA links the HKD to the British pound or U.S. dollar to help the HKD maintain a stable value.

BREAKING DOWN 'Hong Kong Monetary Authority - HKMA'

The HKMA also maintains a sovereign wealth fund called the Hong Kong Monetary Authority Investment Portfolio. The HKMA is a member of the East Asia and Pacific Central Banks along with the Reserve Bank of Australia, the People's Bank of China, the Bank of Japan and seven other central banks.