Bank of Thailand says political impasse impairs consumer confidence

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Central bank says political impasse impairs consumer confidence



BANGKOK: -- The central bank says the Thai economy is affected by the prolonged political stalemate, impairing confidence among domestic consumers.

Spokesperson of the Bank of Thailand Ms Roong Mallikamas says if the political uncertainty dragged on and a new government could not be formed within the first half of this year, then the Thai economy would grow lower than the projection of 2.7 percent.

But she said should this event transpire, then it would weaken consumer confidence and delay government disbursements for mega projects, which stimulate domestic investments and the tourism industry.

She said that the inflation rate in March bounced back to 2.1 percent from 1.9 percent in the previous month, relieving concerns in many sectors.

According to the central bank spokesperson, some of the factors that contribute to rising inflation include the LPG price hike and increasing prices of ready-to-eat meals. However, she assured that the price hike would not decrease the purchasing power of consumers.

The bank believes that the inflation rate in 2014 will swing in the range of 0.5 to 3 percent.

Source: http://englishnews.thaipbs.or.th/central-bank-says-political-impasse-impairs-consumer-confidence/


-- Thai PBS 2014-04-04

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BoT expects 2014 economic growth to be lower than targeted



BANGKOK, 4 April 2014 (NNT) – The Central Bank says the Thai economy is affected by the prolonged political stalemate, impairing confidence among domestic consumers.

BoT Spokeswoman Roong Mallikamas says if the political uncertainty dragged on and a new government could not be formed within the first half of this year, then the Thai economy would grow lower than the BoT’s projection of 2.7 percent. Should this event transpire, then it would weaken consumer confidence and postpone government disbursements for mega projects, which stimulate domestic investments and the tourism industry.

Ms. Roong said that the inflation rate in March bounced back to 2.1 percent from 1.9 percent in the previous month, relieving concerns in many sectors.

According to the BoT spokeswoman, some of the factors that contribute to rising inflation include the LPG price hike and increasing prices of ready-to-eat meals. However, she assured that the price hike would not decrease the purchasing power of consumers.

The BoT believes that the inflation rate in 2014 will swing in the range of 0.5 to 3 percent.


-- NNT 2014-04-04

[opalred]

why is the baht still strong with choas and exports falling rapidly which govt dept propping it up so all corrupt mob and clan can get it out of thailand before it nose dives