TAIPEI : Taiwan's inflation will slow to around 2 per cent this year but the economy will not fall into stagflation even as growth slows, central bank governor Yang Chin-long said on Wednesday ahead of its next scheduled rate-setting meeting later this month.The central bank, at its last quarterly meeting
TAIPEI : Taiwan's inflation will slow to around 2 per cent this year but the economy will not fall into stagflation even as growth slows, central bank governor Yang Chin-long said on Wednesday ahead of its next scheduled rate-setting meeting later this month.
Yang, reiterating his December comments that inflation in 2023 would drop back to below 2 per cent, told lawmakers at a parliament session that the bank's monetary policy was"appropriate". However, Taiwan's January consumer price index rose 3.04 per cent year-on-year, exceeding market expectations for a 2.69 per cent rise.
"Prices of energy and commodities have fallen very quickly this year. The current forecast shows these prices are continuing to fall," he said.
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