TAIPEI -- Taiwan's central bank raised its benchmark interest rate on Thursday for the second consecutive quarter, as it joins other global monetary authorities in tightening policy to quell surging inflation.
The 12.5 basis point increase to 1.5% follows a 25 basis point hike the previous quarter. Taiwan's consumer price index rose 3.39% in May from a year earlier -- its fastest climb in nearly a decade and above the central bank's 2% target for the 10th straight month.
