HOLDING STEADY: The central bank governor dismissed criticism that the bank did nothing to stem capital flight after US Fed rate hikes, citing higher dividend payouts
Taipei Times
Date: Dec 21, 2018
By: Crystal Hsu / Staff reporter
The central bank yesterday kept policy rates unchanged for the 10th consecutive
Central bank Governor Yang Chin-long, left, speaks as Minister of Finance Su Jain-rong listens during a question-and-answer session at the Legislative Yuab in Taipei on Dec. 6. Photo: CNA
quarter, saying that a global economic slowdown and the US-China trade dispute merited a lenient policy.
The monetary policymaker trimmed its GDP growth forecast for this year to 2.68 percent from the 2.7 percent it predicted in September, and is anticipating a 2.33 percent pickup next year.
“The domestic stock rout has taken a toll on consumer spending, while economic weakness in major trading partners might dampen external demand,” central bank Governor Yang Chin-long (楊金龍) told a news conference after the bank’s quarterly board meeting.
Against this backdrop, the board unanimously agreed to hold the rediscount rate steady at 1.375 percent, the collateralized loan rate at 1.75 percent and the unsecured loan rate at 3.625 percent. [FULL STORY]
