Taiwan central bank keeps policy rate steady, to support export-dependent economy

The decision to keep the discount rate at 1.375 percent, snaps a rate-cut cycle that began a year ago to pull the economy out of a brief technical recession.

By: Reuters | Taipei | Published:September 29, 2016 2:42 pm
Taiwan central bank, taiwan central bank policies, Taiwan central bank policy rates, taiwan central bank monetary conditions, export dependent economy, business, business banking and finance, finance, banking, world news Taiwan Central Bank. (Source: Reuters)

Taiwan’s central bank left its benchmark policy rate unchanged on Thursday, as expected, saying it is maintaining loose monetary conditions to support the export-dependent economy.

The decision to keep the discount rate at 1.375 percent, snaps a rate-cut cycle that began a year ago to pull the economy out of a brief technical recession.

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Nine of 15 economists polled by Reuters expected the central bank to hold fire after back to back rate cuts on improvements in manufacturing and export-related activity in recent months. But five economists forecast a cut and one called for a hike.

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