Todays Free Forex Signals 29 09 2022

No forex controls while I’m in office, Taiwan central bank chief says

TAIPEI (Reuters) – FX SIGNALS – Taiwan central bank governor Yang Chin-long said on Thursday there would be no foreign exchange controls during his tenure at the bank, adding management measures were sufficient to maintain market stability if there were large capital outflows. Forex News Today

Yang’s five-year term is due to expire early next year. today forex signals

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The Taiwan dollar has, like other major Asian currencies, depreciated sharply in recent weeks due to aggressive U.S. interest rate increases and U.S. dollar strength as well as worries over slowing global economic growth.

It has lost 13% this year against the dollar. Dollar Edges Higher Fed in Focus

Yang, taking lawmaker questions in parliament, said recent outflows of foreign capital were mainly due to U.S. interest rate rises and that he believed the United States would continue to push up interest rates until the end of this year.


The currencies of South Korea and Japan, competitor exporters of Taiwan, have also sharply fallen but Yang told lawmakers that he did not want to see competitive devaluations.

He was also questioned about the future direction of rate rises, the central bank having last week raised the benchmark discount rate by 12.5 basis points to 1.625%.

Yang said the economy’s performance and inflation would be closely watched over the next three months – the next rate setting meeting is scheduled for mid-December – but added that inflation and gross domestic product (GDP) forecasts were “still very unstable”.

The central bank’s monetary policy response is “dynamic”, and the bank must be very cautious, he said.

The central bank last week trimmed its 2022 estimate for GDP growth to 3.51% from 3.75% seen in June.

It also said it expected the consumer price index (CPI) would rise by 2.95% in 2022, slightly revising up the outlook from 2.83% predicted in June.

Todays Free Forex Signals 29 09 2022

Todays Free Forex Signals 29 09 2022

Todays Free Forex Signals 29 09 2022