Taiwan Central Bank Keeps Interest Rates Steady

The Central Bank of Taiwan (CBC) has so far rejected participating in the easing of monetary policy adopted by its Asian counterparts and did not make any changes to interest rates. This decision by the CBC came after the U.S. Federal Reserve lowered its rate by 25 basis points. The CBC maintained its reference discount rate at 2.000%, with secured lending rates at 2.375% and unsecured lending rates at 4.250%. Market expectations also indicated that rates would remain unchanged. The bank has raised its growth forecast for 2024 from 3.82% to 4.25%, while increasing its inflation expectation from 2.16% to 2.18%. For 2025, the growth forecast was increased from 3.08% to 3.13%, while the inflation expectation was held at 1.89%.