MONETARY POLICY:The nation must not minimize the challenges posed by the rise of China’s technology supply chain, economics professor Dachrahn Wu said
Taipei Times
Date: Jun 17, 2015
By: Crystal Hsu / Staff reporter
The Taiwan Research Institute (台灣綜合研究院) yesterday urged the central bank to weaken the New Taiwan dollar to support the nation’s export-reliant economy, which could grow 3.35 percent this year, down from the 3.43 percent it projected six months ago.
The Taipei-based think tank made the suggestion during an economics forum where economists expressed concerns about rising competition from the technology supply chain in China.
“The central bank can lend a helping hand to local exporters by weakening the New Taiwan dollar [against the US currency],” institute president Wu Tsai-yi (吳再益) said, adding that Japan and South Korea have aggressively eased monetary policies to back their exports.
The institute expects the NT dollar to trade at an average of NT$31.43 versus the greenback this year, softer than the closing price of NT$31.266 in Taipei yesterday.Soften currency to aid exports: forum
MONETARY POLICY:The nation must not minimize the challenges posed by the rise of China’s technology supply chain, economics professor Dachrahn Wu said
Taipei Times
Date: Jun 17, 2015
By: Crystal Hsu / Staff reporter
The Taiwan Research Institute (台灣綜合研究院) yesterday urged the central bank to weaken the New Taiwan dollar to support the nation’s export-reliant economy, which could grow 3.35 percent this year, down from the 3.43 percent it projected six months ago.
The Taipei-based think tank made the suggestion during an economics forum where economists expressed concerns about rising competition from the technology supply chain in China.
“The central bank can lend a helping hand to local exporters by weakening the New Taiwan dollar [against the US currency],” institute president Wu Tsai-yi (吳再益) said, adding that Japan and South Korea have aggressively eased monetary policies to back their exports.
The institute expects the NT dollar to trade at an average of NT$31.43 versus the greenback this year, softer than the closing price of NT$31.266 in Taipei yesterday. [FULL STORY]