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Taiwan keeps key rate steady on expectation of mild recovery

Central bank governor voices concerns about rise of protectionism

Taiwan central bank Governor Perng Fai-nan is worried that protectionism could hurt Taiwan.

TAIPEI -- Taiwan's central bank held its key interest rate steady at 1.375% for the second consecutive quarter on Thursday, in line with market expectations.

"Considering Taiwan will undergo mild economic recovery next year and we still face a negative output gap, the [central bank] board feels the key rate should remain unchanged ... and continue with quantitative easing to boost economic growth," the monetary agency said in a statement.

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