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Taiwan cbank cuts rates for second time this year to boost economic growth

Published 2015-12-17, 04:00 a/m
Taiwan cbank cuts rates for second time this year to boost economic growth

TAIPEI, Dec 17 (Reuters) - Taiwan's central bank cut its
policy rate for the second time this year on Thursday,
underscoring concern for the trade-dependent economy that
entered recession in the third quarter.
The central bank cut the rate to 1.625 percent from 1.75
percent. All but four of 17 economists polled by Reuters
expected no change to the benchmark discount rate.
The discount rate, the rate at which banks can borrow from
the central bank on a short-term basis, is largely symbolic.
At its last quarterly meeting in September, the central bank
cut the policy rate by 12.5 basis points, its first change since
mid-2011. Later, government figures showed Taiwan fell into
recession in the third quarter.

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