Central Bank working to avoid manipulator labelBy Crystal Hsu / Staff reporterThe central bank would continue communicating with the US to avoid being labeled a currency manipulator next month when the US Department of the Treasury renews its list, the bank said on Thursday. Central bank Governor Yang Chin-long speaks at a meeting of the legislature’s Finance Committee in Taipei on March 11. Photo: CNAThe US understood that the COVID-19 pandemic and major central banks’ money-printing programs helped account for the imbalances, Yang said. Strong exports inflate Taiwan’s current account and propel hot money to the local exchange market, Yang said. One way to address trade imbalances is for Taiwan to stop selling chips, but the US and the world need them, Yang added.

Source: Taipei Times September 26, 2021 15:56 UTC