and stay vigilant on the developments in monetary policy in other economies and global trade protectionism and their implications for Taiwan's economic prospects and financial market stability. We will timely undertake appropriate monetary policy actions as warranted in order to fulfill the central bank's statutory mandate. IV. Against a backdrop of amplified volatility in global financial markets recently, the NT dollar exchange rate vis-à-vis the US dollar has experienced greater fluctuations, albeit to a less extent compared to other major currencies. In principle, the NT dollar exchange rate is determined by market forces. If irregular factors (such as massive inflows or outflows of short-term capital) lead to excess volatility and disorderly movements in the NT dollar exchange rate with adverse implications for economic and financial stability, the CBC will, in line with its mandate, step in to maintain an orderly market so as to ensure economic and financial stability. Appendix Table 1 Taiwan's Inflation and Inflation Outlook Inflation Inflation outlook Forecast institutions Jan.-May 2018 2018 (f) Yuanta-Polaris (2018/3/28) 1.30 TIER (2018/4/25) 1.34 1.40* Domestic (CPI) CBC (2018/6/8) institutions 1.16 (Core CPI**) 1.66 DGBAS (2018/5/25) 1.49 (CPI) CIER (2018/4/18) 1.63 ADB (2018/4/11) 1.10 1.40 Foreign Credit Suisse (2018/6/14) (Core CPI**) 1.20 institutions Citi (2018/5/15) 1.20 Goldman Sachs (2018/6/19) 1.30
and stay vigilant on the developments in monetary policy in other economies and global trade protectionism and their implications for Taiwan's economic prospects and financial market stability. We will timely undertake appropriate monetary policy actions as warranted in order to fulfill the central bank's statutory mandate. IV. Against a backdrop of amplified volatility in global financial markets recently, the NT dollar exchange rate vis-à-vis the US dollar has experienced greater fluctuations, albeit to a less extent compared to other major currencies. In principle, the NT dollar exchange rate is determined by market forces. If irregular factors (such as massive inflows or outflows of short-term capital) lead to excess volatility and disorderly movements in the NT dollar exchange rate with adverse implications for economic and financial stability, the CBC will, in line with its mandate, step in to maintain an orderly market so as to ensure economic and financial stability. Appendix Table 1 Taiwan's Inflation and Inflation Outlook Forecast institutions Inflation Inflation outlook Jan.-May 2018 2018 (f) Domestic institutions Yuanta-Polaris (2018/3/28) 1.66 (CPI) 1.40 (Core CPI**) 1.30 TIER (2018/4/25) 1.34 CBC (2018/6/8) 1.40* (CPI) 1.16 (Core CPI**) DGBAS (2018/5/25) 1.49 CIER (2018/4/18) 1.63 Foreign institutions ADB (2018/4/11) 1.10 Credit Suisse (2018/6/14) 1.20 Citi (2018/5/15) 1.20 Goldman Sachs (2018/6/19) 1.30
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