DBS forecasts slower GDP growth in Taiwan next yearBy Kao Shih-ching / Staff reporterDBS 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. DBS Bank Ltd economist Ma Tieying speaks during a videoconference in Singapore on Oct. 5 last year. DBS raised its forecast for inflation in Taiwan for this year from 1.3 percent to 2.3 percent, given higher oil prices and persistent inflation overseas, which has resulted in imported inflation, Ma said. DBS expects the central bank to continue raising rates unless Taiwan faces a considerable downside risk.

Source: Taipei Times April 08, 2022 03:34 UTC