Thailand's economy is slowing, and it could mean trouble
Publishing timestamp: 2023-11-21 00:58:03
Summary
Thailand's economy grew at its slowest pace in almost a year in the third quarter, expanding by 1.5% year-on-year. This is below expectations and marks the second consecutive quarter of easing growth. Analysts warn that the trend of slow growth is likely to continue, and room for public spending is narrowing due to populist policies. The Bank of Thailand has raised its key interest rate for the eighth consecutive time, but some analysts expect a pause or potential rate cuts in the future. The weak GDP growth in Q3 may lead to the government pushing for a large digital wallet handout, despite uncertainty around financing. The Thai baht has also weakened against the dollar.
Sentiment: NEGATIVE
Tickers: THB=,
Keywords: hong kong, currency markets, forex markets, thailand, asia economy, us dollar/thai baht fx spot rate, debt and bond markets, south asia, asia news, stock markets, east asia, business news, india, china,
Source: https://www.cnbc.com/2023/11/21/thailands-economy-is-slowing-and-it-could-mean-trouble.html