Taiwan's central bank left its key interest rates unchanged, as widely expected, and raised its growth projection citing robust exports and investment.
Policymakers decided to hold the benchmark rate at a record low 1.125 percent.
Taiwan's export growth is expected to gather pace amid faster recoveries across major economies and private investment to gain strength from robust exports. Private consumption is forecast to grow moderately.
The central bank raised its 2021 economic growth outlook to 4.53 percent from 3.7 percent.
The bank projected that consumer price inflation and core inflation rates to be 1.07 percent and 0.77 percent, respectively, indicating a mild inflation outlook.
With growth set to ease and inflation low, interest rates are likely to remain unchanged for the rest of the year, Gareth Leather, an economist at Capital Economics, said.
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