Central bank stops interest rate cut cycle

Taiwan News
Date: 2016-09-29
By: Chiu Po-sheng and Frances Huang, Central News Agency

Taipei, Sept. 29 (CNA) The Central Bank of the Republic of China (Taiwan) said Thursday after concluding a quarterly policymaking meeting that it has decided to stop an interest rate cut cycle.

The central bank’s move in its latest policymaking meeting left the discount rate unchanged at 1.375 percent, the rate of accommodations with collateral at 1.750 percent, and the rate of accommodations without collateral at 3.625 percent.

The decision to leave its key interest rates unchanged had been widely anticipated by the market as the local economy has shown signs of improvement, with exports — which account for 60 percent of Taiwan’s gross domestic product — staging a rebound.

In a recent poll by Bloomberg, 14 out of 26 analysts surveyed had said that the central bank would not adjust its monetary policy in Thursday’s meeting.     [FULL  STORY]

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