Bangkok Bank has indicated that is it considering revising its projection for domestic economic growth this year.
In a statement to reporters, Executive Vice-President of Bangkok Bank, Kobsak Pootrakool, blamed high household debt and low agricultural prices for the sluggish economy.
He added the government may need to consider rebalancing the national currency by changing the exchange rate. The Thai baht has appreciated higher than other currencies in the region. However, the bank executive said the recently approved 2016 budget might help stimulate the local economy.
Meanwhile, KResearch Center Managing Director Chao Kengchon indicated that the Monetary Policy Committee is likely to leave the benchmark rate untouched at 2 percent.
He said that key factors for investors to monitor include the U.S. Federal Reserve’s decision on the benchmark rate. He believed the U.S. benchmark rate will also remain unchanged in the near term as the country continues its recovery.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
