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Taiwan central bank keeps benchmark rate unchanged

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Taiwan central bank keeps benchmark rate unchanged

Taiwan's central bank kept the benchmark rate at 1.375% amida recovery in exports and signs of improvement in the labor market, BloombergNews reported Sept. 29, citing a statement from the central bank.

The CentralBank of the Republic of China (Taiwan) had cut its key interestrate to a six-yearlow since September 2015. However, strong sales of Apple Inc.'siPhone 7 have helped to revive the export-dependent economy.

Taiwan's GDP growth rate accelerated to 0.7% in the secondquarter after three quarters of contraction, according to the report. Theisland's government in August raised its GDP growth forecast for the fourthquarter to 1.22% from 1.06%.