BANGKOK, 29 April 2015- Executive Vice-President of Bangkok Bank Kobsak Pootrakool has indicated that the bank may revise down its projections for domestic economic growth.
Mr. Kobsak blamed high household debt and low agricultural prices for the sluggish economy. He added that the government may need to consider rebalancing the national currency by changing the exchange rate. The 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 that the US benchmark rate will also remain unchanged in the near term, as the country continues to recover.
