The central bank of Taiwan increased its key discount rate to 1.75% in December of 2022 from 1.625%, in line with market forecasts and pushing borrowing costs to the highest since 2015. Policymakers noted that although inflation declined in recent months, it is expected to remain above 2% this year before dropping to below 2% next year. The central bank Governor told that if it's certain that the inflation rate is below 2%, the bank will stop raising interest rates, although there is still a lot of uncertainty. Meanwhile, the Taiwanese economy is expected to grow at a slower pace next year, as exports and investment face headwinds from the anticipated global economic downturn compounded by rising downside risks. GDP growth was cut to 2.91% from 3.51% for this year and to 2.53% from 2.9% in 2023. source: Central Bank of the Republic of China (Taiwan)
Interest Rate in Taiwan averaged 1.75 percent from 2000 until 2022, reaching an all time high of 4.63 percent in December of 2000 and a record low of 1.13 percent in March of 2020. This page provides the latest reported value for - Taiwan Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Taiwan Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.
Interest Rate in Taiwan is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Taiwan Interest Rate is projected to trend around 1.70 percent in 2023 and 1.20 percent in 2024, according to our econometric models.