Deputy governor likely to move up and take over Taiwan Central Bank

Deputy governor likely to move up and take over Taiwan Central Bank

Yang Chin-long in front of a picture of the Central Bank. (By Central News Agency)

TAIPEI (Taiwan News) – For the first time in its history, the Central Bank was likely to see a deputy governor, Yang Chin-long (楊金龍), move up to the post of governor once the incumbent of 20 years, Perng Fai-nan (彭淮南) retires next month, reports said Saturday.

Speculation has been mounting in the Taiwanese media in recent days that President Tsai Ing-wen (蔡英文) wanted to play it safe and emphasize financial stability by picking Yang, who has been with the Central Bank for almost three decades.

Earlier, former Premier Lin Chuan (林全), a confidante of Tsai often tipped for the bank leadership, took up a position in the private sector, in effect ruling him out.

The government has not yet officially announced the choice, but Perng is due to retire on February 25. Responding to reports by the Central News Agency and the Liberty Times, a Cabinet spokesman said Saturday that once a decision had been finalized, it would be announced to the public.

Yang, 64, holds a Ph.D. in economics from the University of Birmingham in Great Britain and is known as a specialist in macroeconomics and foreign exchange. He served as the bank’s representative in London and headed the department of banking in Taipei.