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Taiwan's M2 growth falls to 4.19% in Jun

Jul. 26, 2012 (China Knowledge) - Taiwan's central bank has announced that its broad money supply, M2, grew 4.19% YoY in June this year.

The growth rate was lower than the 4.4% rise recorded in May 2012, according to the central bank's statement.

Taiwan's M1B, a measure of money in circulation, increased 3.18% last month, lower than the 3.24% growth in May 2012.

The loans and investments of major financial institutions, including the postal savings institutions, had grown 4.58% YoY at the end of June, lower than the 5.23% growth as of May. 31, 2012.

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 1.77% YoY in June, the highest level since February this year, while its wholesale price index (WPI) fell 1.70% last month, larger than the 0.82% decline in May and reflecting a decline for the fourth consecutive month.

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