Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Free Webinar - Webinar: Simplify Options Trading | Thursday, September 28, 2023 | 08:00PM EDT Enroll Now
Taiwan central bank to weigh inflation, GDP in next rate move
Published May 23, 2023 10:46PM ET
Updated May 24, 2023 02:05AM ET
© Reuters. FILE PHOTO: A Taiwanese flag is seen on top of Taiwan's central bank in Taipei, Taiwan, December 14, 2022. REUTERS/Ann Wang
TAIPEI (Reuters) -Taiwan will weigh both inflation and economic growth when deciding on its next interest rate decision in June but the island's economy may not rebound until the fourth quarter, central bank governor Yang Chin-long said on Wednesday.
While Taiwan has followed major economies in raising interest rates to control inflation, it has done so at a much more moderate pace, reflecting the island's comparatively low level of inflation.
At its last quarterly board meeting in March, Taiwan's central bank raised its policy rate by 12.5 basis points (bps) to 1.875% - the fifth hike since it began the current round of tightening in March last year.
Asked at a parliament committee session whether there would be another rate rise at its June 15 quarterly rate-setting meeting, Yang said they would consider both inflation and economic growth.
The export-dependent economy is now in recession after contracting for two quarters in a row.
Taiwan's central bank generally takes its cues on rate moves from the United States.
Asked whether he thought the U.S. Federal Reserve would raise rates again in June, Yang said the market expectations for that happening were not high and that U.S. inflation was coming under control.
Taiwan has also managed to control its inflation "quite well" in comparison to other countries, he added.
Yang said the global economy this year would likely perform worse than last year, and that Taiwan's economy may not rebound until the final three months of 2023.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.