Taiwan raises economic growth forecast

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    TAIPEI- Taiwan’s central bank revised up the island’s growth outlook for the year on Thursday as strong exports bolstered the trade-reliant economy in the face of the coronavirus pandemic, and left its policy rate unchanged as expected.

    Taiwan has weathered the health crisis better than its neighbors by keeping infections largely at bay, while its export-reliant economy has gained from global demand for its technology products as many people work from home.

    That trend is expected to continue and help underpin a rapid economic recovery this year.

    At its quarterly meeting, the central bank kept the benchmark discount rate at a record low of 1.125 percent, as expected by all 12 economists in a Reuters poll.