Central Banks
Growth Overtakes Inflation as Main Economic Concern for Taiwan
- Central bank kept key rate unchanged, played down CPI worries
- Officials downgraded forecast for 2023 GDP growth to 1.72%
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Taiwan delivered the latest signal that weakening growth is quickly overtaking inflation as the primary concern in the capitals of Asia’s exporting economies.
The central bank in Taipei kept its key rate on hold at 1.875% Thursday, its first pause since December 2021, with Governor Yang Chin-long playing down the need for further hikes this year in the expectation inflation is likely to ease.