TAIPEI : Taiwan's central bank debated the need for further rate hikes this year to combat persistent inflation, minutes from its last board meeting showed on Thursday.
One board member, whom it did not identify, said economic growth was likely to rebound in the rest of the year following a first quarter contraction, but inflation would likely only drop below 2 per cent in the fourth quarter. The member"expressed the view that Taiwan remained under inflationary pressures, noting that the inflation rate was coming down but very slowly and the general public tended to perceive inflation as higher".
Taiwan's March CPI rose 2.35 per cent year-on-year, slightly exceeding market expectations for a 2.22 per cent rise.
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