Taipei, July 16 (CNA) The local central bank is expected to further raise its key interest rates by 25 basis points by the end of this year to take on rising inflation, according to Taiwan Ratings, which has upgraded its forecast for the country's consumer price index growth to 3.2 percent for 2022.
S&P Global Ratings yesterday kept its forecast for Taiwan’s GDP growth this year at 2.8 percent, in contrast to last year’s 6.6 percent growth, as global inflation and geopolitical tensions hit export sectors while a recovery in domestic demand stalls.
“The projected growth is less than 50 percent of last year’s showing, but it remains impressive,” said Taiwan Ratings Corp (中華信評), the local arm of the international ratings agency, attributing Taiwan’s performance to strong global demand for electronic components.
Persistent high inflationary pressure due to energy and raw material price increases, and supply chain disruptions pose the biggest challenge for Taiwanese companies
TAIPEI: Taiwan’s worst Covid-19 outbreak has left the island’s insurers bracing for more than US$1bil (RM4.4bil) in claims that the financial regulator is urging them to honour.
S&P Global Ratings yesterday raised Taiwan’s credit rating to “AA+” from “AA” with a stable outlook, driven by expectations that global demand for semiconductor exports would offset risks associated with longstanding cross-strait tensions.
Taiwan previously held the “AA+” rating 21 years ago, when in 2001 it was downgraded to “AA-.”
The return is driven by expectations that the nation would continue to benefit from global digitalization and maintain healthy fiscal metrics over the next three to five years.
“We anchor our ratings on Taiwan on its strong external position and robust economic support,” the international ratings agency said, projecting GDP growth of 2.8