The nation’s money supply has maintained a “golden cross” for the 18th consecutive month, in light of faster annual growth of the M1B and M2 money supplies last month, which the central bank said was a sign of sufficient liquidity in the market.
A golden cross emerges when the annual growth of M1B surpasses that of M2.
The M1B, a narrow measure of money in circulation, including currency and passbook savings deposits, rose 8.87 percent from the previous year, down from an 8.63 percent year-on-year increase in February, the central bank said yesterday.
The broader M2 measurement — which includes M1B, time deposits, foreign currency deposits and mutual funds — increased 5.89 percent last month compared with the same period the previous year, lower than the 5.61 percent increase posted a month earlier.
“Net foreign capital inflows of US$3.25 billion accelerated the year-on-year rising pace of M1B and M2 last month, evidence of sufficient liquidity,” said the deputy head of the bank’s economic research department Chen E-dawn (陳一端).
The outstanding balance of securities accounts, which rose NT$42.3 billion from a month earlier to NT$1.36 trillion at the end of last month, the highest since March 2012, indicated investors’ bullish attitude toward the stock market.
In the first three months of this year, the average annual growth rates of M1B and M2 were 9.14 percent and 5.82 percent respectively, statistics showed.
The M2 growth is within the central bank’s growth target of between 2.5 percent and 6.5 percent.
MediaTek Inc (聯發科), the world’s biggest smartphone chip supplier, yesterday said it plans to double investment in data center-related technologies, including advanced packaging and high-speed interconnect technologies, to broaden the new business’ customer and service portfolios. The chip designer is redirecting its resources to data centers, mainly designing application-specific integrated circuits (ASIC) with artificial intelligence (AI) capabilities for cloud service providers. The data center business is forecast to lead growth in the next three years and become the company’s second-biggest revenue source, replacing chips used in smart devices, MediaTek president Joe Chen (陳冠州) told a media event in Taipei. “Three or four years
Until US President Donald Trump’s return a year ago, when the EU talked about cutting economic dependency on foreign powers — it was understood to mean China, but now Brussels has US tech in its sights. As Trump ramps up his threats — from strong-arming Europe on trade to pushing to seize Greenland — concern has grown that the unpredictable leader could, should he so wish, plunge the bloc into digital darkness. Since Trump’s Greenland climbdown, top officials have stepped up warnings that the EU is dangerously exposed to geopolitical shocks and must work toward strategic independence — in defense, energy and
Motorists ride past a mural along a street in Varanasi, India, yesterday.
CHALLENGES: The platform brings together accounting and legal experts in the two nations to deliver coordinated advisory services on investment and risk management PwC Taiwan has launched a Taiwan-US service platform to help Taiwanese companies expand into the US, underscoring a shift in corporate investment priorities, as nearly 40 percent of local firms now rank the US as their top overseas destination. The platform brings together accounting and legal professionals in Taiwan and the US to deliver coordinated advisory services, as supply chain realignment, geopolitical risk and shifts in industrial policy reshape global manufacturing and market access strategies, PwC Taiwan chairman and CEO Patrick Hsu (徐聖忠) told a media briefing in Taipei yesterday. “North America has moved from being an optional growth market to a
RSS