| 1. | Then , the only mechanisms for dealing with the substantial inflow of funds into the hong kong dollar were exchange market intervention and the threat of negative interest rates
当时若有大量资金流入港元，应付方法就只有干预汇市及实施负利率。
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| 2. | And without the hkma operating the clearing system , any negative interest rates would have had to be promulgated through rules made by the hong kong association of banks
再者，由于结算系统不是由金管局营运，即使推行负利率也必须透过香港银行公会制定规则来实施。
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| 3. | A much more effective safeguard is to use the mechanism of negative interest rate and to build up a asian monetary network with other economies in the asian pacific region
维护港元，三数千亿储备便显得微不足道，倒不如以负利率来作武器，以及与其他亚太区货币联网，来得实惠。
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| 4. | Mr yam said that whether banks would pass on such charges , which amounted to the imposition of negative interest rates , to the small depositors or not was a commercial decision for each bank to take
任志刚说银行会否将成本转嫁，向小额存户徵收负利率，是个别银行的商业决定。不过，他认为银行没有理由这样做。
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| 5. | But some have expressed reservations in this , which amounts to the imposition of negative interest rates , in view of their unfair impact on the smaller depositors if the banks were to pass them on
但有些人对此持保留态度，因为这会引致出现徵收负利率的现象，而银行若将成本转嫁予存户，小额存户便会受到不公平对待。
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| 6. | The clear determination , of both the government and the hong kong association of banks , to adhere to the linked exchange rate , to the extent of actually putting in place a framework for imposing deposit charges negative interest rates , had there been a need to do so , did the trick
当时政府及香港银行公会的立场明确，就是在有需要时会不惜向存户徵收费用亦即是实行负利率，以贯彻遵守联系汇率，结果收到了预期效果。
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| 7. | There may be circumstances in which some mopping up of inter - bank liquidity through the exceptional issue of exchange fund paper would be desirable . there may also be circumstances in which negative interest rates could become justifiable , if only for the purpose of underlining the government s determination to maintain the linked exchange rate system
有些情况可能需要特别增发外汇基金票据及债券，以吸收部分银行同业流动资金有些情况可能需要实施负利率，例如是为了强调政府维持联汇制度的信心。
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