Taiwan central bank attacks HSBC over T$ forecast

Taiwan's central bank lashed out at Hong Kong and Shanghai Banking Corp (HSBC) on Thursday, saying it had consistently undervalued the local currency in its foreign exchange forecasts.

"Since the beginning of 1999, HSBC has consistently undervalued the Taiwan dollar," the central bank said in a statement. "Based on their past record, it appears that HSBC's forecasts are wildly inaccurate and have a tendency to miss the target on the lower side," it said.

It said HSBC predicted the value of the

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