Taiwan Lifts GDP, Inflation Outlook as Rate Hike Draws Near
- Government expects inflation to peak in 1Q before slowing
- Traders see central bank increasingly likely to raise rates
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Taiwan raised its forecasts for economic growth and inflation for this year, giving policy makers in Taipei reason to join many of their counterparts around the world in lifting borrowing costs.
Gross domestic product will expand 4.42% in 2022, up from an earlier forecast of 4.15%, the government said in a report Thursday. Inflation is set to reach 1.93% compared with 1.61% previously.