Taiwan holds fire on rates at historic low of 1.12pc

Taiwan's central bank has decided to leave its key interest rates unchanged after concluding a quarterly policymaking meeting today. The discount rate will  stand at 1.125 percent, still the lowest level in the country's history.

In its previous quarterly policymaking meeting held in March, the central bank lowered interest rates by 0.25 percentage points, marking the first rate reduction after leaving interest rates unchanged for 14 consecutive quarters, at a time when the global economy faced strong headwinds caused by the coronavirus, CNA reports.

The move by the central bank to maintain its monetary policy had been expected by the financial markets.