Taiwan’s central bank is expected to keep its policy rate unchanged this week, according to economists polled by Reuters, as the island’s economy and inflation slow and global banking woes unnerve markets. | Reuters
The central bank in December signaled an end to its hiking cycle given it expects the economy to decelerate and inflation to drop below 2 percent this year.
Cathay United Bank chief economist Lin Chi-chao said Taiwan’s rates were unlikely to rise because of expectations of a decline in inflation, the slowing domestic economy and a probable smaller U.S. Federal Reserve rate rise this week given the chaos that has erupted since Silicon Valley Bank failed. Taiwan deputy central bank governor Yen Tzung-ta said on Monday that Taiwan’s current inflation wave was not a short-term phenomenon, but noted in recent history the bank had rarely raised interest rates during export downturns.
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