The central bank announced that it would raise interest rates by half a yard. The Executive Yuan stated today (24th) that it will fully subsidize labor relief loans due to the burden caused by the interest rate rise; in addition, youth entrepreneurship and start-up funds loans, school loans, and relief and revitalization loans will not be subject to interest rate hikes It has also planned to assist 550,000 households with low- and middle-income housing loans.

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[Reporter Zhong Lihua/Report from Taipei] The central bank announced yesterday that the interest rate has risen five times in a row, and the rediscount rate will rise to 1.875%, setting a record high in nearly eight years.

The Executive Yuan stated today (24th) that in addition to continuing to provide interest subsidy assistance for specific groups such as laborers, youth, students, and those affected by the epidemic, the "special budget for strengthening economic and social resilience after the epidemic and sharing economic achievements for all" will be deployed in advance. It just so happened that the third reading was passed today, and those who qualify will receive a quota support of 30,000 yuan. It is estimated that about 550,000 households with low- and middle-income mortgages will benefit.

The Government Council stated that the laborers who apply for bailout loans belong to relatively economically disadvantaged groups. In response to the central bank’s interest rate hike, the labor bailout loan interest rate has been increased from 2.22% to 2.345%. For normal repayers, the Ministry of Labor will fully subsidize the loan interest for 1.59 million laborers who have raised the interest rate by half a yard.

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Unaffected by interest rate hikes, there are three types of policy loan projects that are still subsidized by the government, including youth entrepreneurship and start-up loans. The original loan amount is less than NT$1 million, and the full interest subsidy for 5 years will be provided. It will be fully absorbed by the government; as for school loans, the Ministry of Education will assist in subsidizing the increased interest due to the increase in interest rates. All students who apply for school loans will not increase the interest burden due to interest rate increases. Pay the principal and interest, and the interest during the deferred payment period is also fully absorbed by the government.

The rescue and revitalization loans under the supervision of the Ministry of Economic Affairs, including the extension of old loans, working capital loans, and revitalization fund loans, and those who enjoy interest subsidies, originally provided subsidies according to the postal fixed deposit rate. , but it is still limited by the upper limit of the subsidy amount of each business.

As for housing loans, the Government Council pointed out that the subsidized interest rate of housing loans for young people to start a family and policy-based housing loans will be maintained at half a yard (0.125%) until the end of 2024, and the government has already deployed in advance the special budget for "strengthening economic and social resilience after the epidemic and sharing economic achievements for all" In ", it is planned to reduce the living burden of low- and middle-income mortgage households, and provide 30,000 yuan of quota support to those who qualify. It is estimated that about 550,000 households with low- and middle-income mortgage households will benefit.

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