Taiwan central bank cuts key interest rates

Taiwan's central bank cut its key interest rates by 25 basis points on Thursday in an attempt to shore up the slowing domestic economy. The discount rate was lowered to 3.25 percent, while the accommodations with collateral rate was cut to 3.625 percent and the accommodations without collateral rate was lowered to 5.50 percent.
"With inflation risks reduced, the interest rate cuts are expected to boost the local consumption," the central bank said in a statement. The central bank cut interest rates by 12.50 basis points on September 26.