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Taiwan overnight interbank rate opens higher at 0.184 pct
September 29, 2016 / 1:12 AM / a year ago

Taiwan overnight interbank rate opens higher at 0.184 pct

TAIPEI, Sept 29 (Reuters) - Taiwan’s overnight interbank rate opened higher at 0.184 percent on Thursday, ahead of the central bank’s quarterly policy review later in the day.

On Monday, when Taiwan financial markets last traded, the overnight interbank rate opened at 0.182 percent. The island’s financial markets were shut Tuesday and Wednesday due to a typhoon.

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.

Taiwan’s central bank is expected to refrain from cutting benchmark rates, for the first time in a year, when it meets later Thursday, according to a Reuters poll.

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

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