From Espresso: The junta that seized power in Thailand last spring promised economic stability. To that end, Sommai Phasee, the finance minister, has urged the central bank to trim interest rates when it meets today; some predict a modest cut, from 2% to 1.75%. The economy certainly needs perking up: data released yesterday showed that Thai exports fell for a second year, despite a December boost due partly
to a government sell-off of stockpiled rice. Imports also declined bynearly 9% year-on-year, reflecting persistently weak demand. Meanwhile, as oil prices slump, inflation may fall below the central bank’s target range of 1-4%. Fears of deflation and continuing low growth stalk not just Thailand but Asia, not least because of dampened Chinese demand. The worry now is not that the junta has failed to meet its promise of stability, but that it has succeeded—and this is what it looks like http://econ.st/1EO8qxC
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