By Reuters Staff
3 Min Read
TAIPEI (Reuters) - Taiwan central bank governor Yang Chin-long said on Thursday that the United States may label the island a currency manipulator as it has already met Washington’s three main criteria for making such a decision.
FILE PHOTO: New Central Bank Governor Yang Chin-long attends the inauguration ceremony in Taipei, Taiwan February 26, 2018. REUTERS/Tyrone Siu
Yang, answering lawmaker questions in parliament, added that if this happens it would not be too serious and that there would be no immediate disadvantage for Taiwan and they did not expect to be subject to so-called “Section 301” measures that might lead to tariffs.
Taiwan's central bank announced on Wednesday a large spike in its currency intervention spending last year, possibly putting the trade-dependent island in Washington's crosshairs to be labelled a manipulator.
By Reuters Staff
1 Min Read
TAIPEI, March 10 (Reuters) - Taiwan’s central bank said on Wednesday that last year it bought a net $39.1 billion to intervene in the foreign exchange market, with efforts particularly focused in November and December to “avoid serious disorder”.
The bank made the comments as part of a written report to parliament ahead of its governor Yang Chin-long taking questions from lawmakers on Thursday. (Reporting by Liang-sa Loh and Yimou Lee; Writing by Ben Blanchard; editing by John Stonestreet)
Singapore's sovereign wealth fund GIC sold Taiwan stocks last week, cashing in on the island's booming bourse, three sources with direct knowledge of the situation told Reuters.