Central bank governor takes lawmaker’s questions after sharp Fed interest rate hike
Central bank governor takes lawmaker’s questions after sharp Fed interest rate hike
2022-11-03
The governor of Taiwan’s central bank, Yang Chin-long, on Thursday took questions from lawmakers regarding the rapid rise of interest rates in the U.S. Yang stressed that the strengthening of the U.S. dollar and depreciation of the new Taiwan dollar were short-term trends. As such, he said, investors shouldn’t rush to exchange U.S. dollars, as they might end up losing. Asked about whether the world could see another major financial crisis, Yang said it was unlikely, as financial systems worldwide are more stable now than in previous decades.
The U.S. Federal Reserve on Wednesday approved a 0.75-point hike to interest rates, and ripples of the decision have hit markets worldwide. A lawmaker on Thursday asked the Taiwan central bank governor how the government would respond.
Lai Shyh-bao
KMT lawmaker
The U.S. interest rates are so high. If you don’t raise them here, people will just buy U.S. dollars.
Yang Chin-long
Central bank governor
Even if investors make an earning from the gap in interest rates, in the end they could end up losing due to the exchange rate.
The governor said he was confident in the development of the new Taiwan dollar. He also added that four measures would be taken to stabilize the foreign exchange market. They are establishing on-site and off-site supervisory mechanisms, offering financial market liquidity, preparing foreign currency liquidity, and closely monitoring supply and demand in the foreign exchange market to launch adjustments in a timelier manner.
Yang Chin-long
Central bank governor
The U.S. has been raising interest rates very fast. So they will eventually lower the rates drastically too.
With the U.S. dollar picking up strength, several countries are seeing currencies depreciate, and some could even face a debt crisis. A lawmaker asked the central bank governor whether another major financial crisis could be brewing.
Yang Chin-long
Central bank governor
The likelihood of something like that happening is not high. We all learned our lesson from 1997, and from 2008. So financial systems around the world are more sturdy and healthy now.
The rapid rise in U.S. interest rates is testing the abilities of Taiwan’s central bank to stabilize exchange rates and launch effective policies.
外資大舉匯出怎止血? 楊金龍拋4大穩匯措施
2022-11-03
美國聯準會升息三碼，台灣央行會不會跟進?總裁楊金龍認為美元走強，新台幣貶值是短期現象，要投資人別急著換美元，否則可能賺了利差，賠了價差，至於金融風暴是否會捲土重來，楊金龍表示有了過去教訓，各國金融體制健全，金融風暴再重演的可能性不高。
美國聯準會再度宣布升息三碼，對全球金融市場投下震撼彈，台灣央行如何因應，備受各界關注。
[[立委(國)賴士葆]]
“美國利率已經這麼高了，如果你不升，大家通通換美金就好啦”
[[央行總裁楊金龍]]
“投資人賺了利差的時候，有可能到最後，會賠了匯差”
對新台幣長期發展，還是有信心，楊金龍更提出，要用4招穩定匯市：包含建立場內外監理機制，提供金融市場流動性，備妥外幣流動資金，掌握匯市供需並適時進場調節。
[[央行總裁楊金龍]]
“因為美國利率上升，它是急速上升，那個(跌很快的)作用力後面會顯現出來”
在美元大幅走強下，許多國家面臨貨幣貶值和債務危機，也讓立委關切，會不會再度上演大型金融風暴。
[[央行總裁楊金龍]]
“可能性到目前來講的話還是不高，因為就是有1997年的教訓，有2008年的教訓，各個國家的金融體制比較健全”
美國升息循環不斷，如何避免台美利差擴大，有效穩定匯市，考驗央行理監事的決策能力。
Related News
