Central bank’s Yang says Taiwan’s interests come firstBy Crystal Hsu / Staff reporterThe central bank yesterday denied acting to unfairly boost Taiwan’s exports, as it attributed the nation’s widening trade surpluses with the US to the fallout from US-China trade tensions. Central bank Governor Yang Chin-long speaks at a news conference at the bank in Taipei yesterday. The US had exaggerated the sum in its report, based on external projections, while the central bank’s figures would be based on facts, he said. The central bank has no choice but to intervene in times of massive fund inflows, as on Nov. 30 when MSCI weighting adjustments took place, the governor said. The central bank would try to understand the US’ reasoning for its actions, but it has to give top priority to Taiwan’s currency and financial market stability, Yang said, adding that the US quantitative policy has eased the central bank’s headache.

Source: Taipei Times December 17, 2020 15:56 UTC