Interest Rate in Taiwan
Taiwan - Interest Rate
Central Bank holds policy stable in June
At its monetary policy meeting on 17 June, the Board of Directors of Taiwan’s Central Bank (CBC) kept rates unchanged, with the discount rate set at the record low of 1.125%.
On one hand, strong domestic economic momentum so far this year, coupled with rising price pressures and recoveries abroad, meant that further stimulus was not warranted. However, the Central Bank judged it was premature to begin raising rates. Despite inflation reaching an over eight-year high in May, and the Bank upgrading its GDP and inflation forecasts for 2021, the recent domestic Covid-19 outbreak has increased risks to the outlook. Moreover, a rate hike would have risked adding further appreciatory pressure to the Taiwanese dollar.
Looking ahead, rates are likely to stay unchanged this year, although several panelists predict hikes from 2022 as the strong economy allows the Bank to withdraw some stimulus.
FocusEconomics Consensus Forecast panelists see the policy rate ending 2021 at 1.13% and 2022 at 1.22%.
Taiwan - Interest Rate Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Policy Interest Rate (%) | 1.63 | 1.38 | 1.38 | 1.38 | 1.38 |
Taiwan Interest Rate Chart
Source: Central Bank of China.
Taiwan Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.69 | 1.28 % | Dec 31 |
| Exchange Rate | 29.91 | 0.07 % | Jan 01 |
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Economic News
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Taiwan: Inflation rises in August
September 7, 2021
Consumer prices rose 0.59% from the previous month in August, accelerating from July's 0.21% increase.
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Taiwan: Merchandise exports increase at a milder rate in August
September 7, 2021
Merchandise exports soared 26.9% over the same month last year in August, on the heels of July’s 34.7% jump.
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Taiwan: Manufacturing PMI deteriorates in August
September 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) fell to 58.5 in August from July's 59.7.
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Taiwan: Industrial output records lowest expansion since February in July
August 23, 2021
Industrial output grew 13.9% compared to the same month a year earlier in July, which was a deterioration from June's 18.0% increase.
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Taiwan: Merchandise exports surge again in July
August 9, 2021
Merchandise exports soared 34.7% on an annual basis in July, on the heels of June’s 35.1% jump, amid further strong growth in electronics exports.
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