Taiwan again defends currency policies

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The Central Bank of the Republic of China (Taiwan) on Sunday issued a statement responding to criticism from a former deputy governor about its currency policy.

Shea Jia-dong, the chairman of the Taiwan Academy of Banking and Finance, on Friday slated the central bank for adopting a policy to prevent the New Taiwan dollar from appreciating, but not from depreciating.

Shea said the policy had created excessive liquidity and low interest rates, worsening banks' suffering and leading to soaring

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