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Taiwan central bank says still room for further interest rate cuts

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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