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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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  1. 炳樹 賴
    Sep 30, 2016 at 8:37 am
    The Best Cure for Taiwan’s Economic Recession is Consutional Reformlt;br/gt;Ma Ying-jeou’s misguided policies yielded a meager margin of economic growth during his two administrations even as China racked up the greatest span of expansion in its recent history. Much of the problem with Taiwan lies in its dysfunctional government, which has been unable to ferret out a course of development for the future. The cure will come through consutional reform including the adoption of a semi-presidential system and a complete revamping of the committee system in the Legislative Yuan. In addition, the heads of the five government branches including the economic branch, should be chosen through por election to ensure that they will be responsive to the needs of the people.
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