BoT Enacts 50bps Rate Cut, More To Come

April 2007 | Economic Outlook

BMI View: The Bank of Thailand (BoT) cut interest rates by 50bps on April 11 to kick start sluggish domestic demand and limit gains in the baht, at a time when the current political climate has eroded confidence in the economy and threatens its growth prospects for the year. The outlook for Thailand remains bleak, a viewpoint confirmed by the recent release of economic data, which revealed a deceleration in manufacturing production, as well as a deterioration in the country's consumer confidence and business sentiment indices. As we stated previously, these factors, which have been accompanied by low inflation rates,

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