Country Economic Forecasts - Thailand
We have slashed our 2020 GDP growth forecast to -1% from 1.9% a month ago given the unprecedented shutdown of international travel, large cuts to our global forecasts, as well as domestic lockdown measures implemented to dampen the spread of the coronavirus. We expect the Bank of Thailand (BoT) to reduce interest rates a further 25bp, to 0.5% in Q2. Coupled with more fiscal measures and the hoped-for improvement in global and domestic activity in H2, we expect the economy to rebound to 4.7% growth in 2021.
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