This week entered Super Central Bank Week. The US Federal Reserve announced that it would raise interest rates by another 3 yards. Interest rates reached a new high before the financial crisis of 2008. The Central Bank of Taiwan also maintained a tightening pace and raised interest rates by half a yard. Another crash, writing 15 blacks in a row; Taiwan’s export orders unexpectedly turned red in August, with an annual increase of 2% The following is a review of this week’s major events:
Fed raises interest rates by 3 yards as expected, with interest rates expected to rise to 4.6% next year
The US Federal Reserve (Fed) concluded its September interest rate decision meeting on Wednesday and decided to raise the 3 yard benchmark interest rate to a range of 3-3.25%, which is the highest level since before the financial crisis.
According to the newly released interest rate points chart, most voting members agreed to raise the benchmark interest rate to more than 4.25% this year, indicating that the fourth rate hike in November could be 3 yards, and it is estimated that this wave of interest will see a rate hike cycle reach its peak next year. The median forecast for the terminal rate has been revised up to 4.6%, from a previous market forecast of 4.5%.
Taiwan’s central bank decides to raise interest rates by half and estimates that next year’s GDP growth will not be guaranteed 3
Since the US Federal Reserve has not stopped raising interest rates aggressively, the Central Bank maintained its current tightening pace after the Board of Supervisors meeting this week and decided to raise interest rates by half a yard (0.125 percentage points). President Yang Jinlong said that the tone of monetary policy has remained tight so far.
In addition, the central bank noted that due to the slowing economy, slowing export momentum and conservative private investment, this year’s economic growth rate has been revised down to 3.51%, and further reduced to 2.9% per annum next; annual growth rate of CPI and core CPI this year was 2.95%, 2.52%, it will fall back to 1.88% and 1.87% next year.
The freight rate of SCFI’s main black route continued to decline for 15 consecutive years, and the freight rate of the US-Western route was more than 3,000 US dollars
The container shipping market has not improved. The Shanghai Export Container Freight Index (SCFI) published the latest index on Friday, down 240.61 points or 10.4% to 2072.04 points, falling for 15 consecutive weeks. Both prices fell by more than 10%, and the US Western Line fell below $3,000.
In addition, since Yangming (2609-TW) and Wanhai (2615-TW) have held the Fa-speaking Conference and released conservative forecasts, Evergreen (2603-TW) will also hold the Fa-Talking Conference in mid-October. market is also very concerned about the latest round of market opinion.
August export orders rose 2% year-on-year, unexpectedly beating expectations
The Department of Statistics of the Ministry of Economic Affairs announced on Tuesday the statistical results of export orders for August Benefiting from the application of emerging technologies, digital business opportunities and the continued strong demand for network communication services, along with the launch of products new electronic , orders for related components increased, pushing up August Export orders exceeded expectations, reaching US$54.59 billion, a monthly increase of 0.6% and an annual increase of 2% Cumulative export orders for the eight months reached first US$448.14 billion, an annual increase of 7%, a new high for the same period.
TSMC’s Kaohsiung plant receives a construction permit and begins construction this year as planned
TSMC (2330-TW) wafer foundry leader (TSM-US) has not yet received the construction permit issued by the Kaohsiung City Government, so the Kaohsiung plant has not yet started construction. The Public Works Bureau of the Kaohsiung City Government said on Thursday that TSMC applied to start construction on September 19 and approved the construction permit today In response, TSMC responded that it will start construction this year according to the original plan.