Thai economic growth slips to five-year low, rate cuts likely
BANGKOK - Thailand’s economy grew at its weakest pace in five years in 2019, as exports and public investments slowed, and the impact from the coronavirus epidemic is set to pile more pressure on Southeast Asia’s second-largest economy this year.
Some analysts expected the central bank to further cut rates from record lows to bolster growth this year. On a quarterly basis, the economy grew 0.2% in the October-December quarter, the National Economic and Social Development Council said, in line with an upwardly revised 0.2% in July-September. Earlier this month, the Bank of Thailand cut its policy rate to a record low of 1%, and Governor Veerathai Santiprabhob said there was room to help growth if needed.
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