Geertz, C (1998), ‘Deep Hanging Out’, The New York Review of Books, 22 October 1998 Giese, J and Haldane, A (2020), ‘COVID-19 and the financial system: a tale of two crises’, Oxford Review of Economic Policy, Volume 36, Issue Supplement_1, 2020, Pages S200–S214 Goodfriend, M (1986), ‘Monetary Mystique: Secrecy and Central Banking’, Journal of Monetary Economics, Vol. 17, p. 63-97. Greenspan, A (2002), Remarks at the Institute of International Finance, New York, New York, available at https://www.federalreserve.gov/boarddocs/speeches/2002/20020422/default.htm Haldane, A (ed.) (1995), ‘Targeting Inflation’, Bank of England, London Haldane (2004), ‘Fixing Financial Crises in the 2st Century’, Routledge, 2004. Haldane, A (2007), ‘The Future of Payment Systems’, Routledge, 2007 Haldane, A (2009), ‘Rethinking the financial network’ Speech given at the Financial Student Association, Amsterdam. Available at https://www.bankofengland.co.uk/speech/2009/rethinking-the-financial-network  25  All speeches are available online at www.bankofengland.co.uk/news/speeches and @BoE_PressOffice  25  Haldane (2014), ‘Ambidexterity’ speech available at https://www.bankofengland.co.uk//media/boe/files/speech/2014/ambidexterity.pdf Haldane, A (2017a), ‘Everyday Economics’, speech available at https://www.bankofengland.co.uk/speech/2017/andy-haldane-speech-during-regional-visit Haldane, A (2017b), ‘A Little More Conversation A Little Less Action’, speech available at https://www.bankofengland.co.uk/speech/2017/a-little-more-conversation-a-little-less-action Haldane, A (2018a), ‘Folk Wisdom’, Bank of Estonia 100th Anniversary, Tallinn, Estonia, 19 September 2018 available at https://www.bankofengland.co.uk/speech/2018/andy-haldane-bank-of-estonia Haldane, A (2018b), ‘Climbing the Public Engagement Ladder’, speech available at https://www.bankofengland.co.uk/-/media/boe/files/speech/2018/climbing-the-public-engagementladder.pdf?la=en&hash=4A98296FC21804ADE867B53B04618127D91A2C61 Haldane, A (2020), ‘What has central bank independence ever done for us?’ speech given at the UCL Economists’ Society Economics Conference. Available at https://www.bankofengland.co.uk/speech/2020/andy-haldane-ucl-economics-conference-2020 Haldane, A and McMahon, M (2018), ‘Central Bank Communications and the General Public.’ AEA Papers and Proceedings, 108: 578-83.

(Article 112) "The Exchange Fund of the Hong Kong Special Administrative Region shall be managed and controlled by the government of the Region, primarily for regulating the value of the Hong Kong dollar." (Article 113) "The Hong Kong Special Administrative Region shall follow the principle of keeping the expenditure within the limits of revenues in drawing up its budget, and strive to achieve a fiscal balance, avoid deficits and keep the budget commensurate with the growth rate of its gross domestic product." (Article 107) These stipulations confirm the continuance of the Hong Kong dollar as an independent currency; they confirm that the Exchange Fund is available to regulate the exchange rate; they rule out the use of exchange controls; and they provide some comfort that deficit fiscal financing should not attain a scale that would pose a serious threat to monetary stability. Choice of regime But within these parameters the exact monetary arrangements are not prescribed. We have chosen to operate a currency board with a fixed rate against the US dollar. I have recently written and spoken at  2  BIS Review 31/2002  2  some length on the rationale behind this choice and do not intend to repeat all of that today. But let me just reiterate one of my principal contentions – namely that monetary policy, which includes exchange rate policy, cannot determine an economy's competitiveness outside the relatively short term.