Central bank predicts growth will ease in final two quartersThe Bank of Thailand (BoT) expects slower economic growth in the third and fourth quarters this year on a quarterly basis, citing a high base effect. The central bank now projects the growth rate for the third and fourth quarters at 0.6-0.7% per quarter because of the high base effect, he said. At its meeting earlier this month, the MPC voted 6-1 to maintain the policy rate at 2.5%, with one member voting to cut the policy rate by 0.25 percentage points. "Economic growth should continue to expand and achieve the potential growth rate of 3% next year," said Mr Piti. Stiff pricing competition in the EV segment has led prospective buyers to take a wait and see stance, dampening vehicle production.

Source: Bangkok Post June 27, 2024 13:53 UTC