Thailand’s PM Renews Call for Rate Cut After GDP Growth Misses Estimate
- Srettha says even a quarter-point cut can ease people’s burden
- NESDC revises down 2024 GDP growth estimate on weak spending
This article is for subscribers only.
Thailand’s economy grew slower than expected in the fourth quarter, prompting Prime Minister Srettha Thavisin to renew calls for the central bank to cut rates to boost consumption.
Gross domestic product expanded 1.7% in the fourth quarter from a year ago, markedly weaker than the median 2.6% forecast by economists surveyed by Bloomberg. Output shrank 0.6% quarter-on-quarter, data released by the National Economic and Social Development Council showed Monday, against a forecast of 0.1% drop.