Economic forecast maintained at 3.5-4%
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The Joint Standing Committee has maintained this year’s economic forecast at 3.5-4 per cent, according to Federation of Thai Industries (FTI) chairman Chen Namchaisiri.
The committee includes the country’s three most powerful private organisations – the Board of Trade of Thailand, the FTI, and Thai Bankers Association.
If the US Federal Reserve hikes the policy interest rate by 0.25 percentage point to 0.5 per cent, it could encourage more investment to flow to the US, while strengthening the US dollar and weakening the baht, he said on Tuesday.
“If the Fed increases the policy rate, it should engender a positive outcome for the Thai economy, especially the export sector, as the baht could depreciate and that will result in better export competitiveness for Thailand,” he said.
