CIMBT: Contraction likely this yearA currency exchange booth on Khaosan Road. Given the prolonged outbreak and rising daily infections, the bank slashed Thailand's GDP forecast for this year from 1.3% previously to 0.7%. CIMBT expects the baht to continue depreciating against the greenback next week, mainly because of higher new daily infections, Mr Amonthep said. Two of six MPC members voted to cut the policy rate on Wednesday, signalling the rate could be cut later in the year. Two members voted to cut the policy rate by a quarter-point.

Source: Bangkok Post August 06, 2021 21:33 UTC