Economist at UOB Group Barnabas Gan assessed the outlook on Thailand’s economic growth for the current year. Key Quotes “Thailand’s economy expanded 1.6% y/y in 4Q19, marking its slowest growth pace since 3Q14. On a quarter-on-quarter seasonally adjusted basis, the economy expanded merely 0.2% in 4Q19. Accounting for the latest growth print, Thailand clocked 2.4% growth for the whole of 2019.” “We are downgrading our full-year growth further to 2.0% for 2020, accounting for the negative impact from the COVID-19 outbreak. This is down from our previous estimate of 2.8% which we highlighted was still subjected to downside risks of between 0.5% and 1.0% depending on the severity of the COVID-19 outbreak.” “With the Bank of Thailand cutting its benchmark rate by 25bps to an unprecedented low of 1.0% in its February 2020 MPC meeting, we think that policy space is limited at this juncture. We also view that Thailand’s elevated household debt levels and inflation pressures could be exacerbated if rates are cut further in 2020. As such, we do not expect the Bank of Thailand to reduce rates further in 2020. Instead, we expect economic stimulus to come from fiscal space (ie budget disbursements, relaxed rules to facilitate capital outflows etc) to mitigate the impact arising from the COVID-19 outbreak.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Yen slips as risk recovers on fading coronavirus fears; UK CPI – up next FX Street 2 years Economist at UOB Group Barnabas Gan assessed the outlook on Thailand’s economic growth for the current year. Key Quotes “Thailand’s economy expanded 1.6% y/y in 4Q19, marking its slowest growth pace since 3Q14. On a quarter-on-quarter seasonally adjusted basis, the economy expanded merely 0.2% in 4Q19. Accounting for the latest growth print, Thailand clocked 2.4% growth for the whole of 2019.” “We are downgrading our full-year growth further to 2.0% for 2020, accounting for the negative impact from the COVID-19 outbreak. This is down from our previous estimate of 2.8% which we highlighted was still subjected to downside risks of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.