Taiwan central bank raises interest rate to 1.625%

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TAIPEI: Taiwan’s central bank raised its key rate for the third time this year on Thursday, amid ongoing inflation concerns.

The central bank raised the discount rate by 12.5 basis points (bps) to 1.625 percent.

Economists had expected the central bank to raise interest rates during its quarterly monetary policy meeting in a Reuters poll. The median expectation was a 12.5 bp increase, but a minority predicted a 25 bp increase and one saw a 50 bp increase.

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