Central bank cuts rates in Taiwan

TAIPEI - Taiwan's short-term money rates ended lower on 18 May after the central bank aggressively cut interest rates yesterday, 17 May, and the banking system's daily reserves showed a surplus from the previous session.

Dealers said money rates are unliky to rise next week as many money-loosening factors are in store.The overnight interbank rate closed down at 3.985 percent against 4.142 percent on 17 May, while 30-day commercial paper rates ended lower at 4.05 percent versus 4.125-4.15 percent

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