Taiwanese central bank unexpectedly raises rates
Rate-setters warn of potential rise in inflationary expectations amid stronger growth
The Central Bank of the Republic of China (Taiwan) unexpectedly raised its policy rates today (March 21), in its first increase since March 2023.
The central bank’s board raised the benchmark discount rate by 12.5 basis points, bringing it to 2% for the first time since 2008. It also increased the rate on refinancing of secured loans, and the rate on temporary accommodations by 12.5 basis points to 2.375% and 4.25% respectively. The new rates will be effective from March 22.
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