This week ushered in the Super Central Bank Week. The US Federal Reserve announced that it would raise interest rates by another 3 yards. Interest rates hit a new high before the 2008 financial crisis. The Central Bank of Taiwan also maintained a tightening pace and raised interest rates by half a yard. Another tumble, writing 15 consecutive blacks; 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, and interest rates are expected to rise to 4.6% next year
The US Federal Reserve (Fed) ended its September interest rate decision meeting on Wednesday and decided to raise the benchmark interest rate by 3 yards to a range of 3-3.25%. the highest level since before the financial crisis.
According to the newly released interest rate point 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 may be 3 yards, and it is estimated that this wave of interest rate hike cycle will reach its peak next year. The median forecast for the terminal rate was revised up to 4.6%, from a previous market forecast of 4.5%.
Taiwan’s central bank decides to raise interest rates half a size and estimates that next year’s GDP growth will not be guaranteed 3
As the U.S. Federal Reserve has not stopped aggressively raising interest rates, the Central Bank maintained its existing tightening pace following 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. constant.
In addition, the central bank pointed out that due to the slowing economy, slowing export momentum and conservative private investment, the economic growth rate this year was revised down to 3.51%, and further reduced to 2.9% next year; the annual growth rate of CPI and core CPI this year was 2.95%, 2.52%, and it will drop back to 1.88% and 1.87% next year.
The freight rate of SCFI’s main black route for 15 consecutive years continued to fall, and the freight rate of the US-Western route exceeded 3,000 US dollars
The container shipping market has not improved. The Shanghai Export Container Freight Index (SCFI) announced 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 West Line fell below $3,000.
In addition, since Yang Ming (2609-TW), Wan Hai (2615-TW) have held legal talks and released conservative outlooks, Evergreen (2603-TW) will also hold a law conference in mid-October, at which time the latest round of market views will be announced, and the market is also highly concerned.
Export orders in August rose 2% year-on-year, unexpectedly surpassing expectations
The Statistics Department 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, coupled with the launch of new electronic products, 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%. The cumulative export orders for the first eight months reached US$448.14 billion, an annual increase of 7%, a new high for the same period.
TSMC’s Kaohsiung plant obtains construction license and starts construction this year as planned
Wafer foundry leader TSMC (2330-TW)(TSM-US) It was previously rumored that the construction license issued by the Kaohsiung City Government has not been obtained, so the Kaohsiung plant has not yet started construction. The Kaohsiung City Government Public Works Bureau said on Thursday that TSMC had applied to start construction on September 19 and had approved the construction license today. In response, TSMC responded that it will start construction this year according to the original plan.
