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Fitch affirms Thailand at BBB+, outlook stable. Fitch Ratings has affirmed Thailand’s long-term foreign-currency issuer default rating (IDR) at BBB+ with a stable outlook. The rating is underpinned by solid external and public finances, which enhance resiliency to economic shocks. (Bangkok Post, 09/06/18)
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Consumption growth still low. The Thai Retailers Association director, Mr .Chatchai Tuangrattanapan, said that although the government announced 4.8 %GDP growth, the highest in five years, local consumption growth still looks low at only 3.2%, as consumer spending in the provinces has not grown much .(Post Today, 11/9/18)
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Energy Regulatory Commission (ERC) pegs electricity charge until the end of the year. The ERC spokesman said that the ERC is considering pegging fourth quarter’s Ft at Bt3.5966/unit (excluding VAT). ERC will spend about Bt6bn to peg the price. Ft is based on 6-12 months average price of fuel and gas. The increase in energy price this year will lead to a rise in Ft in 1H19. (Daily News, 11/06/18
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The construction of the Pink and Yellow mass transit lines will start on June 29 after the Dept. of Highways has allowed the contractors to access the site. The projects could be delayed by three months from the initial plan. (Kao Hoon, 14/6/18)
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Govt spending comes in at slower pace for first 8 months. GOVERNMENT spending in the first eight months of the fiscal year came to only 64.4 per cent of the total investment budget of Bt2.9 trillion. Up to 71.8 per cent of spending was for regular expenses, with the remaining 37.1 per cent for investment, a source from the Finance Ministry said. (The Nation, 13/06/18)
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Economic growth for second quarter is on track to double 2017’s full-year pace. The Atlanta Fed is forecasting 4.6 percent GDP growth for the second quarter. If the outlook is correct, that would be exactly double the full-year 2017 rate and well ahead of the 3.1 percent increase for the same period a year ago. President Donald Trump while campaigning pledged growth that would rise as high as 6 percent. (CNBC, 08/06/18)
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New Italian economy minister vows to stay in euro, cut debt level. Italy’s government has no intention of leaving the euro and plans to focus on cutting debt levels, the country’s new economy minister said. (CNBC, 08/06/18)
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Japan to provide $50bn aid for Indo-Pacific infrastructure. Prime Minister Shinzo Abe said Monday Japan will set up a new $50-billion framework to help finance state-of-the-art infrastructure projects in the Indo-Pacific region, a move aimed at countering China’s growing economic influence. (Bangkok Post, 11/06/18)
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US Fed raises key interest rate to 1.75-2%. The US Federal Reserve raised the benchmark lending rate on Wednesday, the second increase of the year, and signaled two more hikes were coming in 2018 and four in 2019, a possible sign of concern about accelerating inflation. (Bangkok Post, 14/06/18)
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This economy will slow’ in mid-2019 or 2020: J.P. Morgan strategist. The 9-year bull market will likely end in mid-2019 or 2020, says J.P. Morgan strategist David Kelly. “We got all this sugar rush of fiscal stimulus right now,” he says. “But it’s a sugar rush.” Kelly recommends international stocks for long-term investing. (CNBC, 14/06/18)
Xavi
Trust the NBTC to stuff up another round of 4G auctions, they should drop the reserve price given the inflated bidding from JAS in 2015…
Pon
quality quality quality!