Central Bank Raises Interest Rates by Half a Point, Yang Jinlong’s Presentation on Bitcoin: It’s Like a Roller Coaster, Fasten Your Seatbelt
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Taiwan Central Bank raises interest rates by 0.5 basis points
Central Bank: Rate hike helps stabilize prices and promote stable economic development
Central Bank Governor Yang Chin-long: Bitcoin is like a roller coaster
Taiwan Central Bank raises interest rates by 0.5 basis points
The Taiwan Central Bank convened a joint meeting of directors and supervisors on the 21st and decided to raise interest rates by 0.5 basis points to combat inflation. This is the first rate hike since the second quarter of 2023 and will be implemented starting from tomorrow, the 22nd.
The Central Bank also raised its economic growth rate forecast for this year to 3.22%, and the CPI was adjusted to 2.16%.
The rediscount rate, secured loan facility rate, and short-term liquidity rate were all raised by 0.125%. The data is as follows:
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Rediscount rate: 1.875% → 2%
Short-term liquidity rate: 4.125% → 4.25%
Secured loan facility rate: 2.25% → 2.375%
Central Bank: Rate hike helps stabilize prices and promote stable economic development
The Central Bank pointed out that considering the global economic situation, it was originally expected that domestic inflation would gradually decline. However, considering the higher inflation rate since 2021 and the proposed increase in electricity prices in April this year, there is a fear of creating inflation expectations.
Therefore, the Council believes that raising interest rates will help promote price stability and assist in overall economic development.
The Central Bank emphasized that it will continue to monitor adjustments in electricity prices, domestic inflation development, and also remain vigilant to potential impacts from China’s economic downturn and geopolitical risks.
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Central Bank Governor Yang Chin-long: Bitcoin is like a roller coaster
In the presentation on “Concerns from the Outside World,” the Central Bank also mentioned the progress of Bitcoin and spot ETFs.
Yang Chin-long commented on this:
Bitcoin is like a roller coaster, and we also take this opportunity to remind investors to fasten their seat belts securely.
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