FW: RHB | Thailand | BoT Raises GDP Forecasts, Maintains Key Repo Rate

 

 

 

 

 

 

Economic Research			28 September 2017
Thailand
Economic Update
BoT Raises GDP Forecasts, Maintains Key Repo Rate   The BoT’s MPC has kept its benchmark lending rate (1-day bilateral repurchase rate) unchanged at 1.5% in order to support domestic demand growth. In addition, the committee viewed that the effect of a policy rate cut – to foster a swifter return of inflation to target – would be limited. This was because the decline in inflation was attributed mainly to supply-side factors and might partly be a result of structural factors. The Bank of Thailand (BOT) also raised its economic growth forecasts for this year to 3.8% from 3.5% previously. The Monetary Policy Committee (MPC) assessed that growth this year would be stronger due to rising external demand – which is set to expand at a quicker pace of 8% compared to its forecast of 5% earlier – as well as broadening domestic recovery.   Economist:  Ng Kee Chou  | +603 9280 2179
To access our recent reports please click on the links below:   25 September: August Exports Jump On North Asian Demand 5 September: Money Supply Sees Uptick In July 5 September: August CPI Picked Up On Higher Energy Cost 5 September: July MPI Rebounded On Automotive, F&B Gains 22 August: Softer E&E Shipments Weigh On July Exports 22 August: Private Investment Returns, GDP Fastest In Four Years 17 August: Interest Rate Unchanged Despite Strong THB
Economic Team
Peck Boon Soon	Chief ASEAN Economics	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo	Malaysia, Vietnam	vincent.loo@rhbgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

 

 

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