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Market Update: Taiwan Holds Rate at 1.125%, Raises Growth Outlook
The Central Bank of the Republic of Taiwan held its key discount rate at a record low of 1.125 percent on June 17th 2021, as widely expected. The Committee noted that the inflation rate was on an upward trend, which should peak during the second quarter, and has raised its inflation forecasts for 2021 to 1.60 percent (vs 1.07 percent previously). The Board expected the economy to advance by 6.21% in the quarter ending June, slowing from an 8.92% surge in the previous period, due to the rapid rise in local infections and a softer pace of expansion in private consumption. Furthermore, the central bank revised higher the island nations economic growth projections to 5.08% for this year, from a prior 4.53% estimate. source: Central Bank of the Republic of China (Taiwan) [/s2If]
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