Broad Money Slows But Private Credit Demand Starts To Stir

Economic Research	01 November 2016
Thailand
Economic Highlights
Broad Money Slows But Private Credit Demand Starts To Stir Thailand’s broad money (BM) rose 3.9% y-o-y in September, decelerating from its 4.3% gain the previous month. The moderation in growth was driven by a softening in net foreign assets. However, private demand of credit increased, cushioning some of the downside. September’s private credit growth expanded by 4.0% y-o-y, unchanged from the month before. Consumer loan growth inched higher, offsetting a slight decline in corporate loans. We believe that the Thai economy is on track for modest growth in 2016 and 2017 and do not expect the Bank of Thailand (BOT) to ease the key policy rate throughout 2017. Economist:  Ng Kee Chou  | +603 9280 2179
To access our recent reports please click on the links below: 27 October: September Exports Moderated; Still Positive For 3Q 19 October: “Greatest Sorrow” To Dent But Not Derail Economic Growth 04 October: September Inflation Picked Up On Higher Energy Costs 04 October: Broad Money Growth Stable Despite Easing Public Disbursements 04 October: Thailand MPI Sees Broad-based Recovery In August 27 September: Thai Exports Surge On Vehicle Shipments