The China Post
Date: September 5, 2016
By: CNA

TAIPEI — The Central Bank of the Republic of China (Taiwan) has scheduled a quarterly policymaking meeting for Sept. 29 to decide whether it will continue to cut its key interest rates.

Since September 2015, the central bank has launched a rate cut cycle. In a quarterly policymaking meeting held in late June, the bank cut interest rates by 0.125 percentage points, making the fourth consecutive quarter for a rate reduction, to bolster the local economy.

After the latest rate cut, the discount rate now stands 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 current discount rate only trails a historic low of 1.250 percent seen in 2009, when a global financial crisis hit the local economy badly, prompting the central bank to significantly ease its monetary policy and push down interest rates.     [FULL  STORY]