Taiwan’s Central Bank has decided to keep key interest rates unchanged after concluding its third quarter policymaking meeting on Thursday.
The Central Bank says the decision is due to the slowing down of global economic growth and the stabilization of the domestic economy. In addition, the bank also sees moderate inflation in the outlook for next year. The bank says that keeping interest rates unchanged will help the stability of commodity prices and financial products. The move would also help the economy to grow.
At the meeting, it was announced that the discount rate will remain at 1.375 percent. Meanwhile, the rate of accommodations with collateral will stay at 1.750 percent, and the rate of accommodations without collateral at 3.625 percent.
In related news, Central Bank Governor Perng Fai-nan has announced that he will step down in 2018. Perng has been the Central Bank’s governor since 1998. He has the distinction of being the world’s only central bank chief with a total of 13 A rankings. That’s after Global Finance magazine awarded him the top grade in its Central Banker Report Cards 2016.