Chief Executive of the Hong Kong Monetary Authority Eddie Yue Wai-man speaks at a press conference in Hong Kong on March 16, 2020. (PARKER ZHENG / CHINA DAILY)

Monetary policy needs to be more flexible as Hong Kong braces for more from the fourth wave of novel coronavirus infections while the pandemic situation of other countries is not still properly contained, according to Eddie Yue Wai-man, the chief executive of the Hong Kong Monetary Authority.

When launching flexible monetary policy, governments need to consider the time of launch and exit. When exiting the monetary policy, governments need to mull reintroducing support measures to the battered business sectors, and policy refinement should be dependent on how the economy is affected by the pandemic.

Eddie Yue Wai-man, The chief executive of the Hong Kong Monetary Authority

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“When launching flexible monetary policy, governments need to consider the time of launch and exit. When exiting the monetary policy, governments need to mull reintroducing support measures to the battered business sectors, and policy refinement should be dependent on how the economy is affected by the pandemic,” Yue said at the 14th Asian Financial Forum held online on Monday.

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The outbreak of the COVID-19 pandemic forced countries to introduce unprecedented qualitative easing, interest rate slashing and asset-purchase programs when the global financial market was roiled by the pandemic since March last year.

Amid the novel coronavirus, countries are turning their focus to the development of fintech technology and green finance, Yue added.