Taiwan’s economy is to grow by about 4.5 percent year-on-year this quarter, following an estimated 3 percent expansion last quarter, as third-quarter data on export orders and retail sales are likely to improve due to the effects of China’s restrictive COVID-19 lockdown measures and falling numbers of COVID-19 cases in Taiwan, DBS Bank Ltd said on Friday.
The momentum should decrease in the fourth quarter, with projected GDP growth of 2.8 percent from a year earlier, as downside risks are likely to re-emerge from softening US demand, among other factors, DBS said in a report.
The US is Taiwan’s largest source of
The central bank could raise interest rates by 12.5 basis points later this week to curb inflation, following a 25 basis-point increase in March, a DBS Bank Ltd economist said ahead of the monetary policymaker’s quarterly board meeting on Thursday.
Singapore-based Ma Tieying (馬鐵英) said in a report on Wednesday that she was expecting a less aggressive hike of 12.5 basis points because “growth headwinds have increased.”
At its March 17 meeting, the central bank decided to raise its benchmark discount rate by a larger-than-expected 25 basis points to 1.375 percent, its first rate hike in 10 years, as the bank sensed
Taipei, April 9 (CNA) Taiwan's central bank is expected to raise its key interest rates by 12.5 basis points a quarter for the rest of 2022 and the tightening will to continue into 2023, according to Singapore-based DBS Bank.
DBS Bank Ltd (星展銀行) expects Taiwan’s economy to grow at a slower pace next year, as the nation’s semiconductor sector is likely to face a correction and rate hikes are likely to have a greater impact on the local economy, Singapore-based DBS economist Ma Tieying (馬鐵英) told a videoconference yesterday.
The bank forecasts GDP growth of 3 percent for Taiwan next year, lower than a 3.8 percent expansion expected this year, Ma said, citing a slower pace of growth in private consumption, investment and exports.
Next year, private consumption is expected to grow 2.4 percent annually, compared with a projected increase of