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Taiwan Academics Call on Government to Reform Central Bank

  • Bank shouldn’t be treated as ‘state-run enterprise’: academics
  • Recommendations aren’t mandatory, but still carry weight
The Taiwan Central Bank in Taipei, Taiwan.

The Taiwan Central Bank in Taipei, Taiwan.

Photographer: Billy H.C. Kwok/Bloomberg
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Taiwan’s top government-funded research institute has called on the central bank to overhaul some of its long-held approaches to foreign exchange and monetary policy as part of a landmark set of recommendations.

The government should draw lessons from the US Federal Reserve system to improve the independence and transparency of the central bank, according to a white paper released by Academia Sinica on Monday. The report marks the first time the influential institute has weighed in so publicly on central bank reform.