Taiwan central bank cut overnight lending rate by 2 bps – traders

Taiwan’s central bank lowered its overnight lending rate by two basis points on Tuesday, according to two traders.

The traders said the central bank cut the overnight lending rate to 0.440 percent from 0.460 percent.

The central bank was not immediately available for comment.

The central bank cut the rate to 0.460 percent from 0.480 percent Monday, after cutting the rate twice on Friday from 0.506 percent.

The consecutive cuts, which were the first since May 11, come after the central bank left policy rates unchanged at its last meeting in June due to global uncertainties. In recent weeks, other central banks in the world have lowered interest rates to stimulate economic growth. -By Fanny Liu

http://online.wsj.com/article/BT-CO-20120716-714796.html

 

Category: Taiwan