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Financial News: Taiwan Leaves Key Rate Unchanged

Taiwan Leaves Key Rate Unchanged

12/19/2019 - 05:55:00 (RTTNews)

(RTTNews) - Taiwan's central bank left its key interest rate unchanged for the fourteenth straight meeting, and raised its economic growth projections, on Thursday.

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

The bank lifted its 2019 growth outlook to 2.6 percent from 2.4 percent estimated in September. Likewise, the projection for 2020 was raised to 2.57 percent from 2.34 percent.

The bank forecast 0.77 percent overall inflation and 0.7 percent core inflation next year.

If the economy performs as expected over the coming quarters and inflation continues to drift gradually higher, the central bank is likely to be in little hurry to adjust its monetary policy settings, Gareth Leather, an economist at Capital Economics, said.

The economist expects the rates to remain at 1.375 percent throughout next year.

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