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Financial News: Taiwan Central Bank Keeps Rate Unchanged

Taiwan Central Bank Keeps Rate Unchanged

09/19/2019 - 06:57:00 (RTTNews)

(RTTNews) - Taiwan's central bank maintained its key interest rate for the thirteenth straight meeting, on Thursday.

Policymakers unanimously decided to hold the benchmark rate at 1.375 percent.

The bank upgraded its 2019 growth outlook to 2.4 percent from 2.06 percent estimated previously in June. The bank estimated 2.66 percent growth for the second half of the year.

For next year, growth is seen at 2.34 percent as major economies see a slowdown. Further, the bank forecast 0.70 percent inflation and 0.56 percent core inflation this year.

Gareth Leather, an economist at Capital Economics expects interest rates to be left on hold until at least the end of next year.

While interest rates are likely to remain low for some time yet, rate cuts are unlikely, the economist noted. Financial markets are pricing in some modest easing before the end of the year.

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