Taiwan lawmakers express support for Central Bank frontrunner

Taiwan lawmakers express support for Central Bank frontrunner

Central Bank Deputy Governor Yang Chin-long. (By Central News Agency)

TAIPEI (Taiwan News) – Legislators from all sides of the political spectrum on Saturday expressed approval for the likely choice of Deputy Governor Yang Chin-long (楊金龍) to take over as head of the Central Bank next month.

While the nomination had not been officially announced yet, local media reported it was virtually certain that Yang, an expert who joined the bank almost three decades ago, would succeed incumbent Perng Fai-nan (彭淮南) when he retires on February 25 after 20 years on the job.

Even lawmakers from the opposition had praise for the eventual selection of Yang. The new governor will continue his predecessor’s policy of stabilizing foreign exchange and interest rates, Kuomintang legislator Lai Shyh-bao (賴士葆) told the Central News Agency. He also described the choice as staying away from politics and ideology.

Another KMT lawmaker, former Financial Supervisory Commission Minister William Tseng (曾銘宗), pointed out that Yang had been Perng’s deputy for about a decade, meaning he was experienced and knew how to tackle problems.

Wu Ping-jui (吳秉叡) of the ruling Democratic Progressive Party said Yang would be off to a running start and inspire confidence within the institution, CNA reported.

The eventual choice of Yang to succeed Perng has been seen as a choice for stability and experience as economic growth in Taiwan is picking up despite tension with China.