BoT forecasts record contraction
The Bank of Thailand has reduced its economic outlook to a contraction of 8.1% this year, deeper than the 1997 financial crisis, but kept the policy rate on hold at 0.50%.
The latest economic forecast for 2020 is worse than the record contraction of 7.6% for the Tom Yum Kung crisis, said Don Nakornthab, senior director for the economic and policy department.
Somruedi Banchongduang
