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State-run banks yesterday said that they would raise interest rates on savings deposits and loans after the central bank last week raised its policy rates by 25 basis points, but would approach the matter guided by business needs and other considerations. Top officials from state-run lenders made known their intentions during a meeting of the legislature’s Finance Committee in Taipei, where lawmakers raised questions about the impact of the rate hikes. State-owned Bank of Taiwan (臺灣銀行) has increased the interest rates on its savings deposits by 0.25 percentage points, but would not impose similar charges on all lending operations to retain customers,

T ai peiMichael changJoseph lyuFinancial supervisory commissionMega international commercial bankTaiwan cooperative bankCapital investment management corpLand bankCrystal hsuFinance committeeLunar new yearCooperative bankLei chung darThe taipei times