Taiwan c.bank reiterates sees monetary policy tightening this year

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TAIPEI, March 4 (Reuters) - Taiwan's central bank's monetary policy will move in the direction of tightening this year, governor Yang Chin-long reiterated on Friday, ahead of a quarterly rate-setting meeting later this month.

The central bank has left the benchmark discount rate (TWINTR=ECI) unchanged at 1.125% at its last seven quarterly meetings. It last cut the rate in March of 2020.

It did, however, flag at its last quarterly meeting in December it would likely tighten policy this year by raising rates, following other major economies. read more

Asked by a lawmaker in parliament whether the benchmark rate would be raised this year, Yang said: "This year (we) will move in the direction of tightening".

The central bank holds its next quarterly meeting on March 17.

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Reporting by Jeanny Kao; Writing by Ben Blanchard; Editing by Simon Cameron-Moore

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