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Taiwan central bank says still room for further interest rate cuts

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TAIPEI

There is room for further interest rate cuts, but they will not be reduced to zero or into negative territory, Taiwan central bank governor Yang Chin-long told parliament on Monday.

More money for small and medium-sized companies will be made available if the T$200 billion ($6.61 billion) in already announced loans for them is insufficient, he said.

The central bank this month cut interest rates for the first time in more than four years to a new low and reduced its growth forecast for the export-oriented economy amid growing fears that the coronavirus could trigger a global recession.

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