Central Banks
Taiwan Hikes Key Rate to Highest Since 2008 in Surprise Move
- Central bank increases benchmark rate to 2% to tame inflation
- Governor warns Taiwan may see structural change in inflation
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Taiwan’s central bank unexpectedly raised its benchmark interest rate to the highest since 2008 as it ramped up efforts to tackle stubborn inflation with officials warning the chip-making hub could face a “structural shift” in prices.
Policymakers raised the discount rate to 2% at their quarterly meeting on Thursday. All 27 economists surveyed in a Bloomberg poll had forecast no change.