Taiwan Central Bank Leaves Rate Unchanged

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.

via WSJ

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza