October 31, 2024 23:21 GMT
THAILAND: Export Drop a Concern for the BOT.
THAILAND
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- Having cut rates at its last meeting and indicated that it felt rates were a neutral levels, yesterday’s export numbers will be a cause for concern for the Central Bank.
- Following on from August’s robust +11.4% expansion, September’s growth was a mere +1.1%.
- Imports remain strong up +9.5% and the trade balance a healthy US$2.47bn.
- At the policy meeting the Thai Central Bank Head saw a ‘high bar’ to another rate cut.
- The BOT has stated it will continue to monitor the recovery in exports and manufacturing, government stimulus measures and the US election as major impactors for fourth quarter GDP.
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