The Central Bank has issued 8.29 billion Taiwan dlrs worth of certificates of deposit (CDs) raising total CD issues so far this year to 228.27 billion a bank official tolds. The CDs with maturities of six months one and two years bear interest rates ranging from 4.05 to 5.25 pct she said. The issues are intended to help curb the growth of the M-1b money supply which is expanding due to the rise in Taiwans foreign exchange reserves now at some 60 billion U.S. Dlrs.
TAIWAN ISSUES MORE CDS TO CURB MONEY SUPPLY GROWTH