Sun, Jan 28, 2018 - Page 3 News List

Hinted central bank head gets cross-caucus nod

Staff writer, with CNA

Lawmakers across partisan lines yesterday voiced support for central bank Deputy Governor Yang Chin-long (楊金龍) to succeed central bank Governor Perng Fai-nan (彭淮南) next month.

Democratic Progressive Party Legislator Wu Ping-jui (吳秉叡) was one of the lawmakers who praised the selection, which has reportedly been made by President Tsai Ing-wen (蔡英文), but has yet to be confirmed publicly.

Picking Yang means taking advantage of his experience at the central bank, where he has worked since 1989, Wu said, adding that his familiarity with the institution would allow Yang to get off to a running start and would be good for the institution’s morale.

Echoing Wu, Chinese Nationalist Party (KMT) Legislator Lai Shyh-bao (賴士葆) said that Yang, who has worked with Perng for a long time, can be expected to follow Perng’s approach of stabilizing interest rates and the foreign exchange market.

The choice of Yang is also welcome because it steers clear of politics, Lai said, adding that Yang is a good candidate and should be able to maintain the central bank’s independence.

Following speculation, including a report in yesterday’s Liberty Times (sister newspaper of the Taipei Times) saying Yang’s appointment had been finalized internally, a source familiar with the matter confirmed that Yang will be the next central bank governor.

Cabinet spokesman Hsu Kuo-yung (徐國勇) said that once the decision has been made, the information would be made public in accordance with standard procedure.

Regardless of who becomes the next governor, the president expects the person to work well under pressure and avoid political affiliations to maintain the stability of the country’s economy, Presidential Office spokesman Sidney Lin (林鶴明) said.

People First Party Legislator Lee Hung-chun (李鴻鈞) said he expected Yang to continue to use the appropriate monetary policy to support the nation’s economy, which is its main source of soft power, at a time when ties with China are worsening and Taiwan is faced with rising barriers in the global political arena.

While presidential advisor Chen Po-chih (陳博志) agreed with Yang’s selection, he urged him not to compare himself with Perng, but to follow his own path in leading the bank.

Otherwise, not earning an “A” grade as Perng did could throw Tang off following his monetary policy direction, Chen said.

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