Taiwan's central bank on Thursday kept its policy interest rate unchanged for the seventh time in a row, with economic growth gathering momentum amid better-than-expected performance in exports and private consumption. The decision was in line with economists' forecast.
The Central Bank of the Republic of China (Taiwan) kept its discount rate unchanged at 1.875 percent at the latest rate-setting session. The bank also maintained its secured loan rate at 2.25 percent and the unsecured loan rate at 4.125 percent.
Global economic uncertainties remain and Taiwan's economy is experiencing a mild recovery along with muted inflationary pressures, the bank said.
In February, the government revised up its GDP forecast for the first quarter to 3.26 percent. In the second quarter and in the whole of 2013, the economy is seen growing 3.92 percent and 3.59 percent respectively, bolstered by improvements in exports and private investment.
Consumer price inflation is expected to ease to 1.40 percent in the second quarter, and to 1.37 percent in the whole of 2013.
Taiwan's inflation picked up to 2.97 percent in February on higher fuel and utility charges from 1.13 percent in January.
For comments and feedback: editorial@rttnews.com