Taiwan cuts bank reserve requirement ratios
September 18, 2008 00:00:00
TAIPEI, Sept 17 (AFP): Taiwan's central bank has cut bank reserve requirements in an effort to increase liquidity and beat back the turmoil on global financial markets.
The bank announced that starting Thursday, reserve requirement ratios on Taiwan dollar deposits would be cut from 4.0-10.75 per cent, down from 4.75-12.0 per cent.
Central bank governor Perng Fai-nan said the move would effectively inject some 200 billion Taiwan (6.25 billion US) dollars into the banking system.
