Taiwan’s Central Bank is not likely to adjust interest rates before the end of the year. That was the word from Central Bank Governor Yang Chin-long on Thursday.
The United States Federal Reserve lowered its interest rates in mid-September for the second time in seven weeks in order to prop up a slowing economy. The move had led Taiwanese economists to wonder if Taiwan’s Central Bank would follow suit.
On Thursday, Central Bank Governor Yang Chin-long told lawmakers that the Central Bank committee has no plan to cut interest rates based on its latest assessment. If true, this would be the 14th consecutive quarter that the Central Bank’s interest rates have remained unchanged.
Yang also said that analysts anticipate that the US Federal Reserve will cut its rates at least once more before the end of the year. He said the Central Bank will continue to closely observe the US Federal Reserve and its potential impact on the global economy.