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Central Bank Releases Minutes Of June Monetary Policy Meeting

TAIWAN

The Central Bank of the Republic of China (Taiwan) released the minutes of its monetary policy meeting held on June 15.

  • "Recent data showed the coincident indicators declined further. Growth in GDP from manufacturing contracted owing to significantly weaker momentum." Furthermore, "the Bank downgraded this year’s economic growth rate from 2.21% in March to 1.72%."
  • "Forecasts by major domestic and foreign institutions for Taiwan’s 2023 inflation rate ranged between 2.00% and 2.30% with an average value of 2.16%. Factors behind the inflation outlook for the second half of the year included the trends of international commodity prices and domestic services as well as weather events."
  • "Board members reached a unanimous decision to keep the policy rates unchanged and to adjust the selective credit control measures."
  • Click here to see the full document.
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