Taiwan central bank cuts interest rates by 25 bps
Reuters - Monday, November 10
TAIPEI, Nov 9 - Taiwan's central bank unexpectedly cut interest rates by 25 basis points on Sunday, its fourth reduction in just over a month, and said it saw increased risk of an economic slowdown.
The move by Taiwan's technology-reliant economy will put its benchmark discount rate at 2.75 percent.
The central bank said in a statement imported inflationary pressures had decreased significantly
Taiwan last cut its benchmark discount rate in late October, joining efforts by the U.S. Federal Reserve and other central banks around the world to cushion the economic fallout from the global financial crisis. (Reporting by Lee Chyen Yee; Writing by Anshuman Daga; Editing by Jerry Norton)
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