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Taiwan's M2 growth further slows to 5.01% in Dec

Jan. 31, 2012 (China Knowledge) - Taiwan's central bank has announced that the broad money supply, M2, grew 5.01% year on year last month.

The growth rate was lower than the 5.07% rise recorded in November 2011, according to the central bank's statement.

Taiwan's M1B, a measure of money in circulation, increased 3.51% in December, lower than the 4.22% growth in November last year.

The loans and investments of major financial institutions, including the postal savings institutions, had grown 6% year on year at the end of December 2011, lower than the 6.88% growth at the end of November 2011.

M2 is closely linked with prices and long-term economic activity and is therefore used by the central bank to implement its monetary policy.

Official statistics showed that the island's consumer price index (CPI) increased 2.03% year on year in December, compared with a 1.01% growth in November, and its wholesale price index (WPI) rose 4.32% last month, lower than the 5.29% increase in November last year.

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