snoop1130 Posted May 18, 2022 Share Posted May 18, 2022 BANGKOK (NNT) - The Ministry of Finance has indicated that Thailand’s economic outlook for 2022 remains positive despite the state planning agency recently downgrading its growth forecast. During a recent interview with reporters, Finance Minister Arkhom Termpittayapaisith said that the Thai baht, which recently traded at its weakest level against the dollar in nearly five years, supports various Thai export products. He added that he hopes the Bank of Thailand (BOT) will implement a policy rate that supports recovery. Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe The finance ministry lowered its growth forecast for 2022 from 3.5-4.5% to 2.5-3.5% and increased its inflation forecast due to higher prices and slower global growth caused by Russia’s invasion of Ukraine. According to Arkhon, the revised outlook "remains a positive indicator that the economy is still recovering." Given the U.S. Federal Reserve’s policy tightening, he suggested that Thailand’s current monetary policy should continue to support the economy. Since May 2020, the BOT has maintained its key rate at a record-low 0.50%. As inflation has already surpassed the upper limit of the BOT’s target range of 1-3%, some economists anticipate a rate hike later this year as opposed to the following year. The BOT will conduct its next policy review on June 8. -- © Copyright NNT 2022-05-18 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Link to comment Share on other sites More sharing options...
ozzydon Posted May 18, 2022 Share Posted May 18, 2022 Here we go again the crystal ball is out again with tourism still down exports down and inflation happening and the baht being propt up at least they are optimistic time to buy some more subs 1 Link to comment Share on other sites More sharing options...
RichardColeman Posted May 19, 2022 Share Posted May 19, 2022 13 hours ago, snoop1130 said: said that the Thai baht, which recently traded at its weakest level against the dollar in nearly five years, Well, the pound blipped up for about 6 hours in the last 48 before falling again. UK bad economic news - pound down Thailand bad economic new - Baht up 2 Link to comment Share on other sites More sharing options...
hotchilli Posted May 19, 2022 Share Posted May 19, 2022 13 hours ago, snoop1130 said: He added that he hopes the Bank of Thailand (BOT) will implement a policy rate that supports recovery. Keep the baht low and things will improve. 1 Link to comment Share on other sites More sharing options...
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