中央銀行常務理事會議貨幣政策決議

Monetary Policy Decisions of the Executive Directors Meeting

Central Bank of the Republic of China (Taiwan)

 

中央銀行新聞稿 98年1月7日發布

PRESS RELEASE Release Date: January 7, 2009

 

一、本( 7 )日本行常務理事會決議如下：

本行重貼現率、擔保放款融通利率及短期融通利率各調降0.5 個百分點，分別由年息2.00％、2.375％及4.25％調整為1.50％、1.875％及3.75％，自本( 1 )月8日起實施。

 

I. The following decision was made in today's Executive Directors meeting:

The CBC decided to lower the discount rate, the rate on accommodations with collateral, and the rate on accommodations without collateral by 50 basis points each to 1.50%, 1.875% and 3.75%, respectively, effective from January 8.

 

二、本次降息主要考量因素如次：

II. The decision is based on the following considerations:

 

（一）物價上漲壓力明顯消退：伴隨國內外景氣下滑，進口原油等國際大宗商品價格大幅滑落，國內物價上漲壓力明顯消退，行政院主計處預測本年消費者物價年增率僅0.37％。

1. Inflationary pressure has subsided: With a downturn in the global and domestic economy and a sharp decline in international oil and other commodity prices, inflationary pressure previously facing Taiwan has clearly subsided. The Directorate-General of Budget, Accounting and Statistics of the Cabinet projects a mere 0.37% CPI inflation rate for the year 2009.

 

（二）出口成長率持續衰退：由於外需疲弱，近四個月來我國出口年增率持續衰退，且衰退幅度不斷擴大至去（97）年12月的-41.9％，嚴重影響國內經濟活動。

2. Exports declined further: Due to weak external demand, Taiwan's exports suffered increasingly steep declines over the past four months. Exports growth slipped to negative 41.9% year on year in December 2008. This situation has, in turn, undermined domestic economic activity.

 

（三）失業率大幅攀升：近月失業率大幅攀升，去年11月失業率已升至4.64％，創93年9月以來的新高；邇來不少企業陸續實施無薪休假、緊縮人力等措施，未來勞動市場情勢恐益趨嚴峻，不利經濟成長。

3. Unemployment increased significantly: The unemployment rate has climbed up in recent months and reached 4.64% in November 2008, a record high since September 2004. Companies are imposing unpaid leaves and downsizing. The labor market could soften further in the future, dampening economic growth.

 

（四）持續降息有助提振內需：本次降息，連同先前五度降息，累計降幅達2.125個百分點，有助於減輕個人及企業資金成本，提高民間消費與投資的意願，裨益提振內需。

4. Continuous rate cuts help boost domestic demand: Including today's action, the CBC has reduced the policy rates six times by a total of 212.5 basis points. Continuous rate cuts help reduce the funding costs of individuals and enterprises, stimulate domestic consumption and investment, and are thus expected to boost domestic demand.

 

三、在資金充裕、成本降低的情況下，本行常務理事會再次呼籲，銀行宜對企業提供營運所需資金，勿緊縮放款，以善盡金融中介功能。

III. Given the ample supply of liquidity and lower cost of capital, the Board would urge banks to meet the funding demand of enterprises and not to tighten credit, in order to fulfill their intermediary function.