Taiwan raises rates

Taiwan's central bank has increased its key policy rates by 12.5 basis points each as part of a raft of monetary policy measures aimed at controlling inflation, which is now at a seven-year high.

The discount rate, the rate on accommodations with collateral and the rate on accommodations without collateral will all rise to 3.625%, 4% and 5.875% respectively.

The central bank said it made the decision "to maintain price stability and contain inflation expectations." The strength of the Taiwane