ID :
138622
Sat, 08/21/2010 - 09:51
Auther :
Shortlink :
http://m.oananews.org//node/138622
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Thai economy likely to continue growing, says Bangkok Bank
BANGKOK, Aug 21 – The Thai economy is projected to continue growing in the rest of the year in tandem with regional economic expansion, according
to a top banker.
Bangkok Bank (BBL) president Chartsiri Sophonpanich said the baht would strengthen further in response to the economic growth and in the same direction with regional currencies.
However, state agencies concerned had attempted to oversee the baht to ensure it moves in consistence with other currencies in Asia.
How much the baht will strengthen depends on market conditions, he said, adding that the bank advised its customers to hedge against the currency exchange rate risk to ease impacts of the stronger baht.
Mr Chartsiri said the bank projected its loans would grow 4-6 per cent for the whole year with a focus on extending corporate, business, retail trade, and personal loans.
Sathit Uthaisiri, advisor to the BBL executive chairman, predicted the Thai economy would expand 7 per cent this year with the first and second quarters seeing the economy grow 12 per cent and 10 per cent in a row.
He said the export sector would remain a key driver for the economic growth as it is expected to expand 18-20 per cent for the whole of this year.
Thailand’s exports surged 37 per cent in the first half of this year with Asia becoming the key export destination in place of the United States and Europe, which are experiencing economic uncertainties.
However, what should be monitored closely now is the stronger baht, accelerating inflation rates, and upward interest trend following the decision by the Bank of Thailand’s Monetary Policy Committee to raise the policy interest rate by 25 basis points to 1.5 per cent at current. (MCOT online news)
to a top banker.
Bangkok Bank (BBL) president Chartsiri Sophonpanich said the baht would strengthen further in response to the economic growth and in the same direction with regional currencies.
However, state agencies concerned had attempted to oversee the baht to ensure it moves in consistence with other currencies in Asia.
How much the baht will strengthen depends on market conditions, he said, adding that the bank advised its customers to hedge against the currency exchange rate risk to ease impacts of the stronger baht.
Mr Chartsiri said the bank projected its loans would grow 4-6 per cent for the whole year with a focus on extending corporate, business, retail trade, and personal loans.
Sathit Uthaisiri, advisor to the BBL executive chairman, predicted the Thai economy would expand 7 per cent this year with the first and second quarters seeing the economy grow 12 per cent and 10 per cent in a row.
He said the export sector would remain a key driver for the economic growth as it is expected to expand 18-20 per cent for the whole of this year.
Thailand’s exports surged 37 per cent in the first half of this year with Asia becoming the key export destination in place of the United States and Europe, which are experiencing economic uncertainties.
However, what should be monitored closely now is the stronger baht, accelerating inflation rates, and upward interest trend following the decision by the Bank of Thailand’s Monetary Policy Committee to raise the policy interest rate by 25 basis points to 1.5 per cent at current. (MCOT online news)
