Taiwan central bank cut overnight rate by 2 bps – traders

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

The traders said the central bank cut the overnight rate to 0.420 percent from 0.440 percent.

The central bank was not immediately available for comment.

The central bank cut the rate by two basis points each on Tuesday and 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-20120717-717303.html

 

Category: Taiwan