Datasets:
gtfintechlab
/
central_bank_of_china_taiwan

Dataset card Data Studio Files
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Community
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year
int64
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999
the domestic inflation rate would gradually come down this year from the levels of last year and is expected to decline to around 2 next year
dovish
forward looking
uncertain
2,023
134
policy propositions to raise the discount rate, the rate on refinancing of secured loans, and the rate on temporary accommodations by 0.125 percentage points to 1.625, 2, and 3.875, respectively; and to increase the reserve requirement ratios on nt dollar demand deposits and time savings deposits by 0.25 percentage points, respectively
hawkish
forward looking
certain
2,022
522
the bank will actively keep track of the developments in real estate lending and continue to review the implementation of the selective credit control measures, and make adjustments as needed in order to promote financial stability
neutral
forward looking
certain
2,022
422
this also showed that labor market conditions were picking up
dovish
forward looking
certain
2,022
239
for the year as a whole, the cpi and the core cpi would respectively post annual growth rates of 2.24 and 2.38, lower than the 2.95 and 2.61 of last year
hawkish
forward looking
certain
2,023
996
several board directors discussed economic uncertainties lying ahead and a wider us-taiwan interest rate differential, and stated that the banks monetary policy conduct should be more nimble
neutral
forward looking
uncertain
2,022
146
such policy measures include increasing the supply of social housing, raising the relevant tax levies, etc
neutral
not forward looking
certain
2,021
218
in terms of labor market conditions, the overall unemployment rate dropped, yet the number of furloughed employees in the manufacturing sector increased
neutral
not forward looking
certain
2,023
290
the average ltv ratio for natural persons second housing loans for homes in the specific areas was high and on the rise the banks statistical data showed that the average ltv ratio of this loan bracket was 75.5 in october 2021 but rose to 77.1 in april, showing a trend towards looser loan underwriting by banks
hawkish
not forward looking
certain
2,023
783
since the board met in june this year, growth in the us, the euro area, and china has moderated, prices of commodities such as international crude oil have trended downward, and global supply chain bottlenecks have gradually eased, whereas global inflation remains at high levels
neutral
forward looking
certain
2,022
473
in regard to the key determinants of future price trends, upside pressures could stem from 1 a minimum wage hike implemented early in the year, which would drive up prices in services, and 2 faster rises in food prices including fruit and vegetables, owing to a lower base effect from last years favorable weather conditions
hawkish
forward looking
uncertain
2,020
315
while it has been a while since the tool was last deployed, the increase in the reserve requirement ratios in todays meeting would affect money supply through the money multiplier effect, the positive and negative outcomes of which should be rigorously followed to help guide future policy formulation
hawkish
forward looking
uncertain
2,022
815
the cbc forecasts taiwans economy to advance at an annual rate of 2.58, slightly slower than the 2.86 of the year before
hawkish
forward looking
certain
2,018
909
in sum, current inflation remains mild
neutral
not forward looking
certain
2,017
934
under the facility, financial institutions have so far approved more than 290 thousand applications with the total disbursement exceeding nt460 billion, providing the pandemic-hit smes with the funds needed to stay afloat
dovish
not forward looking
certain
2,021
402
nevertheless, there remain downside risks such as the spread of the new virus variants and lingering supply chain bottlenecks
neutral
not forward looking
certain
2,021
510
meanwhile, with the wto goods trade barometer recently climbing to a new high, the growth rate of world trade volume was also forecasted to rebound markedly this year and edge down somewhat next year
dovish
forward looking
uncertain
2,021
732
regarding the cpi for rent, it climbed back up in august from a modest downswing earlier
hawkish
not forward looking
certain
2,023
26
while discussing the interest rate decision, many board directors said that they have taken stock of domestic inflation outlook, economic growth, and the real interest rate and noted that current and expected inflation were both mild, the output gap was still negative, and uncertainties continued to weigh on economic prospects at home and abroad
neutral
forward looking
certain
2,018
39
based on the assessment of domestic and international economic and financial conditions and prospects, the board directors all expressed approval of keeping policy rates unchanged
neutral
not forward looking
certain
2,017
86
for the outlook of the entire year, domestic commodity prices would likely rise mildly given that international oil prices were forecasted by foreign institutions to go modestly higher than 2023
dovish
forward looking
uncertain
2,024
47
it is thus important to explore potential structural impacts of sustained monetary accommodation on the economy as a whole and whether the bank has enough wiggle room if a sharper financial recession strikes
neutral
forward looking
certain
2,019
807
domestic consumption is also expected to increase moderately
dovish
forward looking
certain
2,021
957
the board decided to keep the discount rate, the rate on refinancing of secured loans, and the rate on temporary accommodations unchanged at 2, 2.375, and 4.25, respectively
neutral
not forward looking
certain
2,024
903
another board director pointed to the complex international economic and financial conditions recently
irrelevant
not forward looking
certain
2,022
526
from january to may this year, building ownership transfers in the six special municipalities increased by 24.1 over the same period of last year
neutral
not forward looking
certain
2,021
933
since the beginning of this year, softened external demand has contributed to negative growth in exports and weighed on production activity
dovish
not forward looking
certain
2,019
454
private consumption would also continue expanding next year thanks to the planned minimal wage hike and public sector pay raise, albeit with slower year -on- year growth than 2023 owing to a higher base effect
dovish
forward looking
uncertain
2,023
606
in contrast, services prices would likely extend the slowdown from the fourth quarter of 2023 onwards
dovish
forward looking
uncertain
2,023
941
one board director viewed that maintaining low rates at home should be in order given lingering uncertainties over the global economy
dovish
not forward looking
uncertain
2,020
298
moreover, positive readings from data on exports, investment, and consumption indicated that a rate hike would not create much of a concern
hawkish
forward looking
certain
2,022
702
reviews and rectifications will then be conducted after some time into the policy implementation, with a focus on comprehensiveness and an understanding of specific cases
neutral
forward looking
certain
2,024
142
one board director also noted that the positive effect of the public sector wage increase on private consumption could be offset by a contraction effect as civil servants might tighten their purse strings on concern over reduced income post retirement following the pension reform
dovish
not forward looking
uncertain
2,017
273
therefore, inflationary pressures were contained
hawkish
not forward looking
certain
2,017
943
recently, residential rent seemed to be trending upwards, and that uptrend was indicated by the dgbas cpi data using a compilation approach in line with the international principles
dovish
not forward looking
certain
2,022
223
discussion on domestic and international economic and financial conditions several board directors gave views on the impact of the coronavirus pandemic on taiwans macroeconomic and price conditions
neutral
not forward looking
uncertain
2,020
154
by contrast, after the pandemic concerns receded, pent-up demand was released briskly, sending private consumption growth to a 33-year high in the second quarter of 2023
hawkish
not forward looking
certain
2,023
103
for the outlook of next year, a rebound in global goods trade growth as projected by international institutions and the continuous boom in emerging tech applications would likely bolster growth in taiwans exports and private investment
dovish
forward looking
uncertain
2,023
724
in regard to domestic demand, the bank expected to see continued real growth in private investment as domestic and multinational tech firms expanded their local investment plans and major government spending schemes including green energy and 5g network infrastructure also moved along
dovish
forward looking
certain
2,021
369
therefore, the bank will continue reviewing the status of banks real estate lending and the effectiveness of the selective credit controls, closely monitor potential impacts of real estate sector-related policies on the housing market, and adjust relevant measures as needed in order to promote financial stability and sound banking operations
neutral
forward looking
certain
2,024
502
data also showed that building ownership transfers in these two area categories rose year on year by 33.3 and 24.3 in july 2024, respectively
dovish
not forward looking
certain
2,024
44
the growth projections made by major forecasting institutions for taiwan this year ranged between 1.05 and 2.37
neutral
not forward looking
certain
2,020
532
since the board met in december last year, the global manufacturing and services sectors have witnessed faster growth, and trade activity has gradually recovered
dovish
not forward looking
certain
2,024
106
factors likely to influence the future path of domestic inflation include price trends of international commodities and domestic services, as well as weather conditions
neutral
forward looking
uncertain
2,024
558
furthermore, the annual growth rate of construction loans also picked up, reaching 5.0 at the end of august
dovish
not forward looking
certain
2,024
259
in this view, private consumption will likely record modest growth this year and grow slightly further next year
dovish
forward looking
uncertain
2,017
616
another board director also supported the adjustments, stating that the housing price trends at present reflected a combination of supply-side and demand-side factors and the bank would need to demonstrate its resolve to keep the housing market from overheating
hawkish
not forward looking
certain
2,021
114
in addition, next years hikes in base wage and public sector pay are likely to inspire a private sector wage increase
dovish
forward looking
uncertain
2,021
795
as for the issue of a negative real interest rate, if inflation is successfully subdued, the real interest rate would turn positive; in contrast, if inflation stays elevated, further rate hikes could be warranted
neutral
forward looking
uncertain
2,023
338
with regard to domestic demand, private investment gained stronger momentum with capital equipment imports increasing significantly in recent months, and private consumption continued growing
dovish
not forward looking
certain
2,024
155
inflationary pressures would be mild, given a slight moderation in the domestic economy and still below-potential output
dovish
forward looking
uncertain
2,019
186
several board directors also pointed out that monetary policy decisions should take into account both current inflationary pressures and the future inflation outlook
dovish
forward looking
uncertain
2,016
222
the banks survey for inflation expectations found that, compared to the previous quarter, a larger share of respondents in the corporate sector and in investment trust companies expected the annual cpi growth rate to exceed 2, mainly because of international raw material price rises and domestic price hikes by some firms
hawkish
forward looking
uncertain
2,022
162
one board director pointed to the current environment where taiwans smes were having difficulties because of the virus outbreak
hawkish
not forward looking
certain
2,020
862
in addition, the pace of chinas economic recovery, climate change, and geopolitical risks could weigh on commodity prices, increasing uncertainties over global inflation trends
dovish
forward looking
uncertain
2,023
87
therefore, the member supported a rate hike by 0.125 percentage points
hawkish
not forward looking
certain
2,024
569
this board director explained further in regard to m2 growth
irrelevant
not forward looking
certain
2,019
164
in terms of bank credit, as the annual growth rate of housing loans had picked up since the second half of 2023 and taiwans export growth stabilized in the fourth quarter, bank loans and investments gradually rose to an annual pace of 6.58 by the end of 2023
neutral
not forward looking
certain
2,024
90
in this view, the board judged that a rate hike would help contain domestic inflation expectations and achieve the policy objectives of price stability and sound financial and economic development
hawkish
forward looking
certain
2,022
843
in regard to bank credit in the year so far, bank lending to the private sector grew steadily, but the pace was slower than the previous year as some companies issued corporate debt to repay bank loans, locking in lower funding cost for a longer term
dovish
not forward looking
certain
2,018
945
both were considered conducive to private consumption, though wage growth was moderate
neutral
not forward looking
certain
2,017
775
since the board met in late june this year, advanced economies and emerging market economies have both been recovering at a steady pace
neutral
not forward looking
certain
2,017
762
for the same period, the annual growth rate of the core cpi averaged 2.66
neutral
not forward looking
certain
2,023
354
for the year as a whole, the prospects of global goods trade growth firming up and emerging tech applications gaining traction would likely fuel export growth and bolster private investment
neutral
forward looking
uncertain
2,024
748
both japan and germany saw their 10-year government bond yields climbing upwards
hawkish
forward looking
certain
2,024
29
the bank tackled housing price elevation by increasing the cost and limiting the source of funds for property buyers via ltv ratio caps
hawkish
not forward looking
certain
2,021
840
in the second half of the year, despite still sluggish investment activity, economic growth was expected to rebound by 3.84, with exports gaining traction as a result of global supply chain destocking and domestic demand buttressed by steady private consumption growth and the governments tax surplus rebates
dovish
not forward looking
certain
2,023
544
despite the fact that recent ntd weakness was mainly caused by foreign portfolio investment outflows, more downward pressures on the currency could ensue if a wider us-taiwan interest rate differential induces more capital outflows
hawkish
forward looking
uncertain
2,022
287
for the year as a whole, export growth would continue to receive a boost from the steadily rising demand for emerging tech applications, as well as benefiting from an increase in inbound travel
dovish
forward looking
certain
2,024
727
there remain many uncertainties over international economic, trade, and financial prospects, including the lack of clarity in future developments of us trade policy towards china, europe, and japan, chinas economic downturn, and possible extension of brexit deadline
neutral
forward looking
uncertain
2,019
703
in the financial markets, from april 2024 onwards, continuous strength in the us labor market and sluggish disinflation bolstered market expectation for a fed rate cut delay, leading to high-level fluctuations of the us government bond yields
dovish
forward looking
uncertain
2,024
626
the domestic inflation rate has declined in the second half of the year but could still register above 2 for the year overall, before dropping below 2 next year
hawkish
forward looking
uncertain
2,022
446
price trends of international crude oil since early november 2021 showed a decline from previous highs as oil demand was hampered by the u.s. efforts to increase local oil output and by market concerns that the new variants could result in a fresh round of major outbreaks
hawkish
not forward looking
uncertain
2,021
207
this could explain why the banks selective credit controls have not been distinctly effective in curbing housing price gains
hawkish
forward looking
certain
2,022
466
meanwhile, the rj crb index, a global commodities benchmark, was dragged down by the oil price slump
hawkish
not forward looking
certain
2,024
605
the primary points to this amendment are as follows appendix 1 1 granting no grace period to a natural persons first outstanding home loan when the borrower already owns buildings to hisher name
hawkish
not forward looking
certain
2,024
75
for this year as a whole, the annual growth rate of the cpi and that of the core cpi were forecasted to register 2.22 and 2.44, respectively see appendix table 2 for the forecasts by major institutions, lower than the 2022 readings of 2.95 and 2.61
hawkish
forward looking
uncertain
2,023
16
entering the second half of 2023, though, growth in housing transactions rebounded and housing prices climbed at a faster pace, driving a continuous rise in housing loans
dovish
not forward looking
certain
2,024
428
as real estate developers were keen on buying more land, the ensuing land price hikes also pushed up housing prices
hawkish
not forward looking
certain
2,021
98
in the meantime, most major stock markets recorded upswings
dovish
not forward looking
certain
2,023
960
as a result, consumer spending slumped, and the recovery of domestically-oriented services sectors faltered
hawkish
not forward looking
certain
2,022
485
in addition, the estimation of the money demand function showed that the growth rate of demand for m2 is likely to range between 2.5 and 6.5 next year, consistent with the reference range used by the bank
neutral
forward looking
uncertain
2,021
538
in the international financial markets, equity price volatility intensified at the beginning of the year but abated after mid-february, while vix the widely-followed measure of expected volatility also dropped then and moved within a narrower range
neutral
not forward looking
certain
2,018
572
the developments of the covid-19 outbreak will be a key variable for taiwans economy this year
neutral
forward looking
certain
2,020
61
the bank expec ted taiwans economy to grow by 3.08 in 2024
neutral
not forward looking
uncertain
2,023
689
on another front, japan has adopted low policy rates for a long time but could still be slipping into the lost 30 years. while monetary policy such as the bojs balance sheet expansion and fiscal policy such as increased government spending could be used to counter short-term economic cycles, they are not the effective cure for long-term structural diseases, which have been ailing japan
dovish
not forward looking
certain
2,019
615
this supervisor also pointed out that domestic economic growth was not as slow as perceived by the public, let alone recessionary
dovish
not forward looking
certain
2,019
976
in addition, the higher-than-usual price rises at home in the recent year could push up inflation expectations
hawkish
forward looking
uncertain
2,023
260
meanwhile, rising prices of oil and of fruit and vegetables also drove the inflation rate upwards, albeit judged to be temporary
dovish
not forward looking
certain
2,021
948
with government helping banks to help businesses, it showed the importance of the corporate sector
dovish
not forward looking
certain
2,020
518
we will also conduct a rolling review on the results of these regulations and measures and make timely adjustments as warranted to ensure sound banking operations and promote financial stability
neutral
not forward looking
certain
2,021
779
and though the proposed nt200 billion facility was preliminarily designed to run for a short term, an extension or expansion might be considered should the smes still remain financially strapped later on
dovish
forward looking
uncertain
2,020
46
overall, the pace of disinflation remained slow
hawkish
not forward looking
certain
2,024
527
in respect of monetary policy moves by major central banks, the us fed and the ecb held policy rates steady in the year to date
neutral
not forward looking
certain
2,024
377
for the first five months of the year, the average annual growth rates of the cpi and the core cpi were 1.39 and 1.13, respectively, representing mild price uptrends for both
neutral
forward looking
certain
2,021
5
with the pandemics impact diminishing at home, the number of employed persons increased by 0.29 year on year in july
dovish
not forward looking
certain
2,022
956
one board director, referring to taiwans warm inside, cold outside economy, pointed out that while external demand was dampened by tighter monetary and economic conditions abroad, domestic private investment could also be dented as exports and the manufacturing production index continued declining
hawkish
forward looking
uncertain
2,023
864
by frequency of purchase, prices of staples more frequently purchased rose at a slightly slower pace in november
dovish
not forward looking
certain
2,023
861
the director then cited the international monetary fund, whose world economic outlook stated that continued rate hikes by major economies since last year caused the world to face anemic economic growth in the next five years, a rocky road fraught with uncertainties
hawkish
forward looking
certain
2,023
48
the solution would therefore be to guide insurers to invest more in real economic activity
dovish
forward looking
certain
2,019
256