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,…

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…

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…

Moody’s Sets APAC Sovereigns Outlook to Negative for 2020

Moody’s Sets APAC Sovereigns Outlook to Negative for 2020

Moody’s Sets APAC Sovereigns Outlook to Negative for 2020 19 of Moody’s 25 rated APAC sovereigns have stable outlooks, while four have negative outlooks and two have positive outlooks Moody’s Investors Service says in a new report that its outlook for APAC sovereign creditworthiness in 2020 is negative, underpinned by slower economic growth, a turbulent…

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…

Kasikorn Bank predicts 4-6% growth in loans for 2020

Kasikorn Bank predicts 4-6% growth in loans for 2020

Kasikorn Bank predicts 4-6% growth in loans for 2020 Despite the expectation of a sluggish economy in 2020, Kasikorn bank aims to grow its loan volume by 4-6% next year. They it say they will achieve this withs emphasis “on services that meet customers’ business and lifestyle needs, effective cost management and using data in…