Banks in Hong Kong offered a high interest rate for HK$ deposits in the first half of 1998 because
A. there was a keen competition among banks after the total removal of the interest rate agreement.
B. it was believed that the supply of Hong Kong dollars would fall short.
C. the government wanted to maintain the linked exchange rate at US$1 = HK$7.5.
D. the government used the reserves kept by the Exchange Fund to acquire stocks and shares in the stock market.