News
Central bank keeps interest rates unchanged
Taiwan’s central bank has decided to leave its key interest rates unchanged. The decision was announced after the bank wrapped up its quarterly policymaking meeting.
It means that the discount rate remains at 2%, which is still the highest in 15 years. The rate on accommodations with collateral remains at 2.375%, while the rate on accommodations without collateral still stands at 4.25%.
The move represents the second consecutive quarter in which the central bank has opted to maintain its key interest rates.
However, the central bank has lowered the loan-to-value ratio for individual buyers for their second-home mortgages from 60% to 50% islandwide. That measure is aimed at reducing property speculation by forcing buyers to put up more of their own capital to purchase property. It had previously only been applied in Taipei, New Taipei, Taoyuan, Taichung, Tainan, Kaohsiung cities and Hsinchu.
