Want China Times
Perng Fai-nan, governor of Taiwan’s Central Bank, said Thursday that the bank’s decision
to cut its key interest rates represents a shift from a relatively accommodating monetary policy to an easy money policy and that Taiwan does not have to take cues from the United States.
Amid speculation that the US might raise interest rates toward the end of the year, Taiwan’s decision to cut its key interest rates by 0.125 percentage points has surprised some market observers, who were wondering whether Taiwan would follow the US and raise its rates.
But Perng said the Taiwan Central Bank’s monetary policy is informed mainly by commodity prices and economic performance and does not necessarily take cues from the US. [FULL STORY]