Taiwan Raises RRR Again to Cool Off Property Market, Holds Rate
- Central bank boosts amount of funds banks must hold in reserve
- Housing costs in Taiwan have risen for 23 straight quarters
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Taiwan’s central bank increased the amount of funds banks must hold in reserve to rein in the sizzling property market, while keeping its benchmark interest rate at the highest level in 16 years.
The monetary authority raised lenders’ reserve requirement ratio by 25 basis points at its quarterly meeting on Thursday. It also announced more targeted measures to try to address the rising cost of homes.