September 30, 2016 / 1:12 AM / a year ago

Taiwan overnight interbank rate opens unchanged, after policy rate held steady

TAIPEI, Sept 30 (Reuters) - Taiwan's overnight interbank rate opened unchanged at 0.184 percent on Friday, compared to its previous session open, after the central bank decided at its quarterly policy meeting to keep benchmark interest rates steady.

The central bank left the discount rate unchanged after its meeting Thursday, saying it has done all it can to support the trade-dependent economy and called for more structural policies to keep growth on track.

The decision, as widely expected, probably means the central bank will wind down a rate-cut cycle that started in September 2015, economists said.

The overnight interbank rate is closely watched by market participants because it is guided by the central bank and is seen as a signal of its monetary policy bias.

The central bank earlier on Friday also kept its open market operation rates also unchanged.

Reporting by J.R. Wu; Editing by Biju Dwarakanath

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