By: Pan Tzu-yu, Matthew Mazzetta and Frances Huang
Speaking at a news conference after the central bank's quarterly policy-making meeting, Yang said amid the current "super easing" policy adopted by Washington to take on the economic impact resulting from COVID-19, many countries have seen their currencies rise as ample funds in the U.S. sent the American unit lower.
"Taiwan is a small and open economy, making itself no exception to U.S. influences," Yang said. "How to stabilize the local forex market has become a challenge at a time of U.S. quantitative easing."
Yang's comments came after the U.S. Treasury Department released on Wednesday the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners. The report included Taiwan on a list of economies that the U.S. will monitor for currency manipulation. It was the first time Taiwan was included in the watch list since 2017. [FULL STORY]