The government on Tuesday appointed Yang Chin-long (楊金龍) to a second five-year term as central bank governor.
In a short statement, the Presidential Office said that Yang’s second term would run from Feb. 26 through Feb. 25, 2028.
Yang, 69, was appointed to lead the bank in 2018, taking over from Perng Fai-nan (彭淮南), who had served as central bank governor since 1998.
Photo: CNA
In comments to reporters, 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 might be particularly important given that Yang has indicated some members of the bank’s board of directors pushed for more aggressive rate hikes at its past two policy meetings, the sources said.
The central bank has increased interest rates four times this year by a total of 0.625 percentage points, its first hikes in more than 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, although economic growth is also forecast to decelerate.
Yang’s first term as central bank governor coincided with a series of major events affecting the global economy, including the start of a US-China trade dispute in 2018, the outbreak of the COVID-19 pandemic in 2020 and rising global inflation over the past year.
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