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Taiwan's M2 growth falls to 3.69% in Aug

Sep. 25, 2012 (China Knowledge) - Taiwan's central bank has announced that its broad money supply, M2, grew 3.69% YoY in August this year.

The growth rate was lower than the 3.8% rise recorded in July 2012, according to the central bank's statement.

Taiwan's M1B, a measure of money in circulation, increased 2.73% last month, lower than the 2.88% growth in July 2012.

The loans and investments of major financial institutions, including the postal savings institutions, had grown 4.7% YoY at the end of last month, lower than the 5.21% growth as of Jul 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 3.42% YoY in August, the highest level since Sep 2008, while its wholesale price index (WPI) fell 0.9% last month, less than the 1.71% decline in Jul.

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