Taiwan’s central bank left its overnight rate unchanged Tuesday, after lowering it eight times in just over a week, a central bank official and traders said.
The Central Bank of the Republic of China (Taiwan) left the rate at 0.388%, after lowering it Monday to 0.388% from 0.390% Friday. It had lowered it from 0.506% by two basis points or more each day since July 13, except Friday when it lowered it by one basis point.
The official said the central bank made the decision Tuesday “based on economic and market conditions,” and that it was “unlikely” to lower the rate again Tuesday.
The official said the rate, after the recent cuts, is back to the level it was at in late March.
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