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Taiwan's M2 growth up to 5.22% in Jan

Feb. 27, 2012 (China Knowledge) - Taiwan's central bank has announced that the broad money supply, M2, grew 5.22% year on year in January 2012.

The growth rate was higher than the 5.01% rise recorded in December 2011, according to the central bank's statement.

Taiwan's M1B, a measure of money in circulation, increased 3.86% last month, higher than the 3.51% growth in December last year.

The loans and investments of major financial institutions, including the postal savings institutions, had grown 5.20% year on year at the end of January 2012, lower than the 6.00% growth as of Dec. 31, 2011.

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

Official statistics showed that the island's consumer price index (CPI) increased 2.37% year on year in January, compared with a 2.01% growth last December, and its wholesale price index (WPI) rose 4.28% last month, higher than the 4.25% increase in December 2011.

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