BoT forecasts record contraction

BoT forecasts record contraction

BoT forecasts record contraction The Bank of Thailand has reduced its economic outlook to a contraction of 8.1% this year, deeper than the 1997 financial crisis, but kept the policy rate on hold at 0.50%. The latest economic forecast for 2020 is worse than the record contraction of 7.6% for the Tom Yum Kung crisis,…

Baht’s rise worries govt; BOT blames it on a weaker dollar

Baht’s rise worries govt; BOT blames it on a weaker dollar Though the Finance Ministry is worried about the fast rising baht, the central bank assures that the baht is only strengthening in line with regional currencies. Finance Minister Uttama Savanayana said on Thursday (June 11) that the Bank of Thailand understands that the currency…

https://i2.wp.com/en.propertyarea.asia/wp-content/uploads/sites/2/2020/06/EHG.png?resize=696%2C428&ssl=1

Thai bank forecasts 7.3% GDP contraction in 2020

Thai bank forecasts 7.3% GDP contraction in 2020 Siam Commercial Bank’s Economic Intelligence Centre (EIC) has further revised downward its economic projection for this year to an economic contraction of 7.3 per cent. Lockdowns triggered by the coronavirus across the globe have led the Economic Intelligence Center of Siam Commercial Bank (EIC SCB) to predict…

Thai banks slash growth forecast around 2%

Thai banks slash growth forecast around 2%

Thai banks slash growth forecast around 2% Thai growth may be around 2% or less, said two major Thai commercial banks and a senior official of the Bank of Thailand. Several major Thai banks have drastically reduced their GDP growth forecast for 2020 citing the coronavirus epidemic, drought and fiscal delays. The coronavirus epidemic, the…

Bank cuts Thai 2020 GDP growth outlook to 2.7%

Bank cuts Thai 2020 GDP growth outlook to 2.7%

Bank cuts Thai 2020 GDP growth outlook to 2.7% SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019 SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020…

Moody’s outlook for APAC corporates remains negative in 2020

Moody’s outlook for APAC corporates remains negative in 2020

Moody’s outlook for APAC corporates remains negative in 2020 Moody’s Investors Service says in a new report that overall credit conditions for APAC non-financial companies will weaken in 2020 • While positive, the US-China trade agreement will not resolve core differences, dampening business sentiment globally • Easing fiscal and monetary policies by major central banks…

Thailand’s loss of trade privileges with US is credit negative

Thailand’s loss of trade privileges with US is credit negative

Thailand’s loss of trade privileges with US is credit negative The development is credit negative because Thailand’s export-oriented economy is in a difficult external environment given that a broad-based export slowdown and strong Thai baht are weakening the competitiveness of goods exporters and the country’s tourism industry. Thailand’s loss of trade privileges with US is…