The rate-setting committee of the Bank of Thailand has been expected to cut the rate of policy by as much as 0.25 points and reach a low of 1% for the quarter to shore the growth of the economy up and slow down the appreciation of Baht as per the Standard Chartered Bank.
The monetary policy is still its main tool for steadying the current economy with the fiscal stimulus not very significant for the budget bill for the bill still being under the deliberation of the Senate as per the economists at Standard Charted.
They said that the cur in a rate is a call which is not a consensus call as the market is expecting the rates to stay unchanged and they predicted a further cut in the rate possible in the first quarter of the economy if it is still in a state of confusion.
The Bank of Thailand has been slashing the rate of benchmark twice in the previous year for a record low level of 1.25% for boosting growth.
The budget bill of 3.2 trillion in baht for the year 2020 has remained in the limbo after a few of the MPs had used their electronic cards for voting without being present there in the parliament as the house deliberated the Sections 39 to 55 of this bill. The vote of the house can be considered to be invalid and the bill is likely going to be postpone in this event.
The fiscal spending is worrisome say the economists especially the budget.
In case the government is spending higher than the previous year and the Eastern Economic Corridor will be making a great stride and it is going to be a boon.
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