TAIPEI : Taiwan's central bank said on Friday it is watching inflation and there is no cause for alarm, but added it will adopt"appropriate" monetary policies if needed.
In a Facebook post, the central bank said that major institutions predict Taiwan's consumer price index, or CPI, will not exceed 2per cent for all of this year, and will decline next year."Maintaining price stability is the main responsibility of the bank. The bank will continue to monitor domestic price trends, grasp the overall development situation of inflation, and adopt appropriate monetary policies," it added, without elaborating.
At its quarterly meeting last month, the central bank said it expected full year CPI to rise 1.7per cent in 2021 and then expand by a slower 0.92per cent in 2022.Taiwan's benchmark interest rate is at its lowest on record - 1.125per cent, having been cut in March of last year as the COVID-19 pandemic began to bite.
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