Taiwan set to raise rates

Fai-Nan Perng, the governor of the Central Bank of China (Taiwan), has told the country's parliament that he will carry on hiking rates to dampen inflationary pressures.

Fai-Nan told lawmakers from the finance committee on Monday 10 March that the central bank would continue to "fine tune" interest rates higher.

The inflation accelerated to 3.9% in February for the first time since November, which the governor blamed on rising commodity prices.

The central bank raised rates four times last year

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