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Taiwan central bank holds rates and revises growth for 2019

  • Regular
  • Asian Market
  • 2 months ago
  • 20

The central bank of Taiwan has held its key policy rate 1.375% as expected by most analysts.

Policymakers said that they will maintain accommodative monetary policy and added that will closely monitor developments in the US-China trade war, monetary policy trends of major economies, geopolitical situation, and the impact of global financial market changes on the domestic economic.

The Committee noted a slowdown in domestic inflation and added that inflation outlook remains stable, meanwhile policymakers lowered its projections for inflation rate to 0.7% against 0.87% for the previous month of August.

The core inflation rate is seen at 0.56% against the previously projected figure of 0.76% for August.

The Committee also revised its forecasts for Taiwan’s GDP growth from 2.06% to 2.4% while the economy is expected to grow by 2.34% in 2020 and inflation and core inflation for 2020 are expected to be at 0.88% and 0.77%, respectively. 

 

 

Source: Smart Trend Team