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2330<\/a> whose chips are powering the AI revolution, was the main reason for strong economic growth this year.<\/p>\nThe trade surplus with the United States so far this year was $143.8 billion, almost all due to high-tech goods, which Yang described as a “very strange” situation. That is more than double last year’s trade surplus of $64.7 billion.<\/p>\n
“The current monetary policy is appropriate,” he said following the quarterly rate-setting meeting, adding that for next year inflation, a key policy concern of the bank’s, would be “still fine”.<\/p>\n
HIGH DEMAND FOR AI APPLICATIONS<\/p>\n
The central bank trimmed its consumer price index forecast for this year to 1.66% from its September forecast of 1.75%. For next year, it said it expected inflation to slow further to 1.63%.<\/p>\n
Taiwan’s economy grew 4.59% in 2024, buoyed by robust exports, including high demand for AI applications. Still, there are clouds on the horizon.<\/p>\n
In a statement, the bank said it would closely monitor developments in U.S. tariffs as well as geopolitical risks. Goods from Taiwan are subject to a 20% U.S. tariff, as part of President Donald Trump’s sweeping measures targeting imports from across the globe, though Taipei remains in talks with Washington to get a better deal. Semiconductors have thus far been excluded from the tariffs. Taiwan’s rate decision came after a sharply divided U.S. Federal Reserve cut interest rates last week, but signalled borrowing costs were unlikely to drop further in the near term.<\/p>\n","protected":false},"excerpt":{"rendered":"By Liang-sa Loh and Faith Hung Taiwan’s central bank on Thursday raised its economic growth forecast for the…\n","protected":false},"author":2,"featured_media":281707,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":{"0":"post-353848","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/353848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=353848"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/353848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/281707"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=353848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=353848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=353848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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NVDA<\/a> has fuelled its economy this year. The central bank left the benchmark discount rate (TWINTR=ECI) unchanged at 2% at a quarterly meeting, in a unanimous decision in line with predictions from a Reuters poll in which all 30 economists forecast no change. It raised its 2025 estimate for economic growth to 7.31% from a previous forecast of 4.55% provided in September. For next year, it expects growth to slow to 3.67%, though that is better than a previous prediction of 2.68%.<\/p>\n