Central bank cuts rate to counter burly baht

The Bank of Thailand has slashed interest rates a quarter point to 1.5%, the first reduction since 2015.

The surprise announcement comes as the strength of the baht is creating pain in an export sector already beleaguered by the Sino-American trade war. Exports are slowing along with other key economic indicators such as GDP and tourism.

Private consumption is forecast to fall with employment also taking a hit.

Related stories:

Growth of Thai economy slows to 5-year low

Find all episodes of The Coconuts Podcast

Support Coconuts and rep your city

Now you can wear your love of Coconuts proudly across your chest. That’s right, we’re getting into the merch business with the launch of our official online store, The Coconuts Shop.

Our first product is that ultimate wardrobe mainstay: the white T-shirt.

If you want to rep your city, we’ve also launched Coconuts City Logo Tees for Bangkok, Manila, Singapore, Hong Kong, KL, Jakarta, Bali, and Yangon.

They’re all sold exclusively at The Coconuts Shop – at a special introductory price of S$29 until Sep. 30, 2020!

READ MORE

CITY: BANGKOKCATEGORY: NEWSSUB-CATEGORIES: BUSINESS

Leave a Reply

Coconuts TV
Our latest and greatest original videos
Subscribe on
MOST POPULAR

Send this to a friend