TAIPEI (Reuters) – The current wave of inflation in Taiwan is not a short-term phenomenon and has fanned expectations for continued high inflation rates, the deputy central bank governor said on Monday.
“We have seen the consumer price index exceed 2% for nine consecutive months. This wave of inflation is not a short-term phenomenon,” Yen Tzung-ta told lawmakers during a parliamentary session.
Economists widely expect the central bank to keep its policy interest rate unchanged this week, as the island’s economy slows while global banking woes roil financial markets.
(Reporting by Faith Hung; Editing by Christopher Cushing)