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Financial News: Taiwan Holds Key Interest Rates

Taiwan Holds Key Interest Rates

09/21/2017 - 06:01:00 (RTTNews)

(RTTNews) - Taiwan central bank left its key interest rate unchanged on Thursday, as widely expected, for the fifth consecutive quarterly meeting.

The central bank kept the discount rate at 1.375 percent.

Policymakers assessed that maintaining policy rates would help the economy to recover and maintain financial stability.

The bank said it will pay close attention to the changes in economic and financial situation and adopt appropriate monetary policy to achieve its objectives.

Chang Liu, an economist at Capital Economics, said rates will stay on hold not just this year, but through 2018.

The economist said the economy is expected pick-up further in the months ahead.

Inflation averaged 0.7 percent so far this year. With wage growth relatively weak, money growth at multi-year lows and some spare capacity left in the economy, price pressures will probably stay low, Chang said.

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