Taiwan's economy will bounce back to enjoy a growth rate of 4.45 percent in 2010 after weathering the anticipated recession of 2.57 percent this year, the Taiwan Research Institute (TRI) predicted on Friday. TRI President Wu Tzai-yi attributed the next year's predicted growth to the gradual global economic recovery that is expected to boost Taiwan's exports, as well as the recovery in local consumer confidence as the country's economic fundamentals regain momentum. The TRI forecast the quarterly economy in 2010 will grow by 8.48 percent in Q1, 5.53 percent in Q2, 3.59 percent in Q3, and 0.99 percent in Q4. The Q4 economy in 2009 is forecast to grow 6.76 percent, according to the TRI. Private consumption will increase 1.82 percent next year, ,thanks to the recovery in the stock and labor markets, and private investment is expected to increase by 7.56 percent, he added. Other economic research institutes have also predicted growth for Taiwan in 2010, with a growth rate of 4.66 percent forecast by the Chung-Hua Institution for Economic Research, 4.57 percent by the Polaris Research Institute, and 4.21 percent by the Taiwan Institute of Economic Research. The Executive Yuan's Directorate General of Budget, Accounting and Statistics forecast an economic growth of 4.39 percent next year. Meanwhile, National Taiwan University mathematics professor Lin Chien-fu suggested the government bring an end to its interest rate lowering policy, explaining that low interests have resulted in a drop in people's banking interest incomes, frustrating private consumption. The decline has become a big challenge to the country's economic recovery, Lin said. 