May Tax Season: Central Bank Injects Cash and Reduces Certificates of Deposit Issuance to Meet Short-Term Funding Needs

Reported about 1 year ago

Despite raising interest rates by half a point at the end of May, a surge in foreign capital inflows and the bullish stock market trend led to a rebound of the New Taiwan Dollar, resulting in a 1.22% appreciation in May. However, with increased funding needs during the tax season, the Central Bank of Taiwan shifted to a looser monetary policy by providing liquidity to the market. In response to the rising short-term funding demand, the bank slightly reduced the issuance of certificates of deposit by over NT$17.27 billion in May to relax market pressures. The article highlights the bank's market operations, emphasizing the release of excess funds during peak demand periods such as the tax season.

Source: YAHOO

View details

You may also interested in these wikis

Back to all Wikis