The large balance of payments surplus in the current account and the net inflow of foreign direct investments will involve , with exchange controls , a corresponding large capital outflow . this takes the form of the rapid accumulation of foreign reserves that we have all witnessed in recent years 一文中指出，在实施外汇管制的情况下，往来帐累积大的国际收支盈馀，加上外商直接投资录得流入净额，是会在资本帐以大量资金外流的形式出现。
Since the stance of us monetary policy is expected to tighten further this year , interest rate arbitrage activity will likely trigger outflows . this would normalise our monetary conditions and allow hong kong dollar interest rate to move closer to those of the us dollar 由于预期美国今年将会进一步收紧货币政策，扩大港元与美元间的利率差距，因此利率套戥活动可能会引发资金外流，而这将会使本港的货币状况回复正常，并使港元利率较贴近美元利率。
Similarly , an outflow of money causes the monetary base to fall along with the loss of foreign reserves through the convertibility undertaking . soon interest rates will rise to a level that makes the return for holding hong kong dollars attractive , thus stemming and reversing the outflow 同一道理，资金外流会令货币基础收缩，而外汇储备会透过兑换保证的运作而流失，利率随之上升，投资者受到持有港元的回报吸引，于是资金流入港元，扭转原来资金外流的情况。
This turn in sentiment is of course to be welcomed . the threat of an interest rate shock , arising from possible capital outflow if the concerns were heightened to the extent of affecting confidence in the currency , regardless of the robustness of the monetary system , has quickly subsided 我们当然欢迎这种市场情绪的改善，原因是无论货币制度如何稳健，在经济问题困扰下，市场情绪是会影响到对港元的信心，令资金外流，从而引致利率被抽高，影响经济及借款人。
Again , where there is a seller there should also be a buyer , although , if for the market as a whole there is a greater pressure on the selling side than on the buying side , stock prices may decline and the " outflow " then appears as a depreciation of the stock values 人们在谈论资金外流时，其实可能是针对投资者撤出股市的意欲。同样道理，有卖方自然便有买方，假使整体股市沽盘比买盘强的话，股价便会下跌，而这种定义的资金外流可从股票价值的下跌反映出来。
Either action will lead to a reduction in the aggregate balance of the banking system , a crucial component of the monetary base , and a rise in the interbank interest rates , which then makes the hong kong dollar more attractive in terms of higher interest income and therefore , hopefully , stems the outflow 当有资金流出时，银行体系的总结馀货币基础的关键部分会减少，银行同业拆息亦上升，从而令港元的利息收入增加，使港元更具吸引力，最终有助遏止资金外流。
