Taiwan's government on Tuesday appointed Yang Chin-long (???) to a second five-year term as central bank governor.
In a short statement, the Presidential Office said Yang's second term would run from Feb. 26, 2023 through Feb. 25, 2028.
Yang, 69, was appointed to lead the bank in 2018, taking over from Perng Fai-nan (???), who had served as central bank governor since 1998.
In comments to CNA, financial industry sources praised Yang's flexibility and receptiveness to differing views on monetary policy, in contrast to Perng, who is known for his more uncompromising style.
The ability to seek consensus may be particularly important given Yang's admission that some members of the bank's Board of Directors pushed for more aggressive rate hikes at its last two policy meetings, the sources said.
Taiwan's central bank has raised interest rates four times this year by a total of 0.625 percentage points, marking its first hikes in over 10 years and bringing the benchmark discount rate to 1.75 percent.
The bank has said it expects inflation to drop below 2 percent next year, though economic growth is also forecast to slow down.
Yang's first term as central bank governor coincided with a series of major events affecting the global economy, including the start of the U.S.-China trade war in 2018, the outbreak of the COVID-19 pandemic in 2020 and rising global inflation over the past year.
Source: Focus Taiwan News Channel