GDP fell 0.6pc in the October to December quarter on a seasonally adjusted basis
BANGKOK – Thailand's economy unexpectedly contracted in the fourth quarter of 2023 and the policymakers downgraded the outlook for this year, adding to pressure on the central bank to give in to the prime minister's demands for a rate cut.
From a year earlier, the economy grew 1.7pc, slightly faster than a revised 1.4pc growth in the third quarter but slower than a forecast 2.5pc expansion. Substantial risks and the impact of China's slowing economy on Thai tourism will exert pressure on the central bank to lower rates, though it might be difficult to move before the Federal Reserve does as it will stoke currency volatility, he added.
Standard Chartered Bank, said in a note. He predicted two 25 basis-point cuts in the key rate in the first half. The Bank of Thailand has said rate cuts will do little to revive Southeast Asia's second-biggest economy if structural issues persist.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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