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미래전략 연구소2020-08-05T16:50:09+09:00

Taiwan 2020 Taiwan interest rates remain unchanged and GDP grow 1.6%

Date
2020-09-23 11:28

Taiwan interest rates remain unchanged and GDP grow 1.6%

 

The Central Bank announced on September 17 to maintain the interest rates unchanged and raised its full-year growth forecast to 1.6%.

As economic growth accelerated in the second half of the year, exporting growth and the Wuhan Coronavirus (COVID-19) pandemic appeared to be under control, the Central Bank has decided to freeze the interest rates for the second consecutive quarter at 1.125%, which is the lowest level in Taiwan’s history. The decision means that the interest rate of housing mortgage will remain at 1.50%, while the interest rate of the unsecured loans will remain at 3.375%.

Regard to GDP, the bank previously proposed to increase the growth figure for 2020 to 1.52%, but now raises the forecast to 1.6%. The economy will further improve at a rate of 3.28% next year.

The government’s measures to stimulate the economy, increasing consumer confidence and capital expenditures in the semiconductor industry are key factors for optimism in the fourth quarter of 2020.