Taiwan central bank raises GDP forecast, stands pat on rates

TAIPEI :Taiwan's central bank revised up the island's 2021 growth on Thursday as strong exports bolstered its trade-reliant economy that has boomed on strong global demand for technology, while also keeping its benchmark interest rate steady as expected.

The central bank raised its 2021 estimate for gross domestic product growth to 6.03per cent from a 5.75per cent forecast in September. GDP expanded in the third quarter of 2021 by 3.7per cent versus the year ago period, down from 7.43per cent in the second quarter, pulled lower by a partial lockdown to prevent domestic COVID-19 infections from spreading, but policy makers have predicted 6per cent or more growth for the full year because of the export surge.

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