JSCCIB sees weakening Thai baht shortly

BANGKOK, November 7 (TNA) - The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has foreseen the weakening Thai baht in the near future, which should further boost Thai exports. Chen Namchaisiri, Chairman of the Federation of Thai Industries (FTI), told journalists of the assessment on Tuesday after the JSCCIB's latest meeting in Bangkok, noting that the JSCCIB assessment was based on a projection that the US Federal Reserve (FED), under its newly-appointed Chairman Jerome Powell, should raise the United States' key interest rate soon, resulting in the stronger US dollar but the weakening Thai baht. Chen revealed that the JSCCIB meeting also resolved to maintain its forecast of Thailand's gross domestic product (GDP) growth in 2017 at 3.7-4.0 per cent year-on-year and export growth at 6.5-7.5 per cent year-on-year. The FTI chief said that the JSCCIB projected that Thailand's GDP in 2018 should further grow by 3.5-4.0 per cent year-on-year and exports should further expand by 3.5-6.0 per cent year-on-year, forseeing as well that the country's inflation should stand around 0.5-1.0 per cent in 2017. (TNA)