Heightened political uncertainties in Thailand after an election meant to herald...
BANGKOK - Heightened political uncertainties in Thailand after an election meant to herald a return to democracy have clouded the outlook for economic policy, the central bank said in minutes of a meeting earlier this month that left interest rates unchanged.
“The Thai economy was subject to heightened political uncertainties, which could have implications for economic growth, including a direct effect on government spending in the period ahead and an indirect effect on private consumption and investor confidence,” minutes of the bank’s monetary policy committee meeting said.
Data released on Tuesday showed the Thai economy grew 2.8% in the first quarter from a year ago - the weakest in over four years - and the central bank said earlier this month that this year’s growth would be lower than its last forecast of 3.8 percent.
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