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Bank of Thailand Holds Key rate and raises 2017 GDP forecast

Thailand’s central bank kept its benchmark interest rate unchanged at 1. 5 percent where it’s been since 2015, according to a Bank of Thailand statement

Boris Sullivan

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The Monetary Policy Committee resolved unanimously to retain policy interest rate at 1. 5 percent where it’s been since 2015, according to a Bank of Thailand statement on its website on Wednesday

Mr Chaturong Chantharang, assistant governor of the Bank of Thailand for monetary police, said that the MPC wanted to continue using lenient monetary policy to boost sustained economic expansion and to keep inflation rate within target.

The Thai government is hoping for a pick up in investment and consumer spending to broaden the expansion in Southeast Asia’s second-largest economy, which remains export-reliant.

According to economic assessments this year and next year, the economy tends to expand at higher rate than previously projected – 3.9 percent instead of 3.8 percent.

The Thai economy as a whole was projected to achieve higher growth than previously assessed on account of continued improvements in merchandise exports and tourism that were driven by a stronger global economic recovery

Forecast Summary as of December 2017

The Thai economy was projected to achieve faster growth than previously assessed driven by continued improvements in exports of goods and services, the gradual recovery in private consumption and investment, and continued growth in public
expenditure.

• Inflation forecasts remained close to the previous assessment with inflation still projected to slowly rise.
• The growth outlook was still subject to risks that warranted close monitoring, namely uncertainties pertaining to US economic and foreign trade policies as well as geopolitical risks.

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SCB cuts thai growth forecast to 3.6%

The SCB’s Economic Intelligence Center (EIC) has reduced its growth projection for the Thai economy this year to 3.6%

Olivier Languepin

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The SCB’s Economic Intelligence Center (EIC) has reduced its growth projection for the Thai economy this year to 3.6% from a previous expectation of 3.8%.

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Southeast Asia launches $1 billion facility for green infrastructure

Reuters

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CHIANG RAI, Thailand (Reuters) – The Association of Southeast Asian Nations (ASEAN), the Asian Development Bank (ADB) and major financiers on Thursday launched a facility to spur more than $1 billion in green infrastructure investments across Southeast Asia.

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Bank of Thailand feels “no pressure” to change policy rate

The governor of the Bank of Thailand downplayed risks to the economy from the country’s disputed recent election

Reuters

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BANGKOK (Reuters) – The governor of the Bank of Thailand on Monday downplayed risks to the economy from the country’s disputed recent election and asserted the central bank can afford to take a wait-and-see stance on monetary policy.

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