Taiwan's central bank also raised the discount rate 12.5 basis points to 1.75% at its March meeting this year. Taiwan reported annual consumer price inflation of 1.7% in May, up slightly from 1.3% in April this year, meanwhile the government is forecasting 2011 inflation of 2.1%. The Taiwan economy grew 6.6%, year on year, in Q1 2011; slower than 2010's 10.9% economic growth rate, according to the Directorate General of Budget, Accounting and Statistics.
Thursday, June 30, 2011
Taiwan Central Bank Raises Discount Rate 12.5bps to 1.875%
The Central Bank of the Republic of China (Taiwan) raised its discount rate 12.5 basis points to 1.875% from 1.750%, continuing its normalization of monetary policy settings. The Bank also raised the collateralized loan rate 12.5 basis points to 2.250% from 2.125% and the unsecured loans rate 12.5 basis points to 4.125% from 4.000%. Bank Governor, Perng Fai-nan, said: "Although the nation's inflation remains more stable than in most other countries, we have decided to maintain the pace in rate hikes to help control the public's prospective attitude toward consumer prices,".
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"Although the nation's inflation remains more stable than in most other countries, we have decided to maintain the pace in rate hikes to help control the public's prospective attitude toward consumer prices,". - this is the clear explanation why ROC (Taiwan) is one of the industrialized and rich countries in Asia. I hope that this reform brings a good thing to the welfare of the Chinese people.
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