TAIPEI: Taiwan central bank governor Yang Chin-long said yesterday inflation would slow by the third quarter and any that rate rise decisions would depend on consumer price data, but that they would be very cautious on the pace of tightening.

       In a surprise move last month, the central bank raised its benchmark interest rate and by a much bigger margin than some expected, citing concerns about inflation, which have been driven by supply chain disruptions from the war in Ukraine.

       Taiwan’s March consumer price index rose an on-year 3.27%, a more than nine-year high and the eighth month in a row it had increased beyond the central bank’s 2% warning line, driven by rising global energy costs due to the Ukraine war. Taking lawmaker questions in parliament, Yang declined to provide details on future rate rise decisions. Asked whether each future increase would be a 12.5 basis point jump, he replied: “At present, I wouldn’t dare to say that”. — Reuters