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Central bank expected to raise interest rates in Q4

TAIPEI, Taiwan -- Leong Wai Ho (梁偉豪), a senior regional economist with Barclays yesterday stated that Taiwan's central bank is expected to raise interest rates in the fourth quarter of this year by 0.125 percent.

The bank stated that amid expectations of steady growth in domestic consumption, the central bank intends to limit the amount of capital circulating in the market, representing the regulator's confidence in the nation's economic prospects.

Most notably, the bank revised its projected GDP growth for Taiwan upwardly to 4.1 percent over the course of this year.

It also said that Taiwan's consumer price index rose to 1.75 percent, a 17-month high over July, compared to the 1.64 percent recorded in June. Barclays stated the surge in price of common household goods were mostly propelled by gains in food including meat, eggs and fruits, due to recent agricultural losses caused by typhoons. In particular, at 4.3 percent over July, the price of meats saw less than expected gains, compared to the 3.8 percent growth recorded in June, said Barclays. The company, however, stated that food prices are poised to peak in August and September.

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