BOJ goal pinched further as Japan firms cut inflation forecasts – Japanese companies expect consumer prices to rise 1.2 percent in the next one year, the Bank of Japan said Friday, less than the 1.4 percent annual rise predicted in the central bank’s previous June survey and below its 2 percent inflation target. (Kyodo, 2/10/15)
China’s foreign service trade deficit widens – China saw a widened deficit in foreign service trade in August compared with the previous month, according to data from the State Administration of Foreign Exchange (SAFE). The service trade deficit was 143.6 billion yuan (22.6 billion U.S. dollars) in August, expanding from 107.6 billion yuan in July, and 90.9 billion yuan in June, data showed. (Xinhua, 2/10/15)
World Bank cuts East Asia growth forecast…again – It downgraded its 2015, 2016 and 2017 growth projections for developing East Asia-Pacific to 6.5, 6.4 and 6.3 percent respectively on Monday. That’s down from its previous prediction in April of 6.7 percent growth for both 2015 and 2016 and 6.6 percent in 2017, and the April predictions themselves were trimmed from a previous forecast. Developing East Asia and Pacific, which grew 6.8 percent last year, comprises of 14 nations including China, Indonesia, Malaysia, Philippines, Thailand and Vietnam. (CNBC, 5/10/15)
The World Bank expects China to meet its annual gross domestic product (GDP) growth target of about 7 percent this year, with economic expansion set to moderate thereafter as investment growth decelerates on the back of tighter credit and more subdued property sector conditions. (CNBC, 5/10/15)
Fed’s John Williams Still Expects Rate Increase This Year – Federal Reserve Bank of San Francisco President John Williams said Tuesday he still expects the central bank to begin raising short-term interest rates this year, despite a slowing of job gains in September. (Nasdaq, 6/7/15)
Somkid seeks faster work on 3 city lines – Deputy Prime Minister Somkid Jatusripitak is urging faster progress on three electric railway projects in Bangkok this year as he steps up efforts to develop transportation links to help bolster the economy. (Bangkok Post, 6/10/15)
TPP ‘not likely’ to hurt Thailand – Effect on exports one of the main concerns. Effects on Thailand from the much-touted Trans-Pacific Partnership (TPP) agreement signed by 12 Pacific Rim countries on Monday are likely to be minimal, say experts. (Bangkok Post, 7/10/15)
Business leaders cut outlook for growth – Plunging exports and inactive tourism after the August bombing in Bangkok have prompted business leaders to cut their economic growth projection again to 2.5-3% this year. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), a group of some of the nation’s most powerful businessmen, has agreed to cut the projection from 3-3.5% made in the middle of this year, according to Isara Vongkusolkit, chairman of the Thai Chamber of Commerce. (Bangkok Post, 7/10/15)
Funding for Blue Line firms up – The cabinet has approved the Mass Rapid Transit Authority of Thailand (MRTA) proposal that operators for the MRT Blue Line extensions should be selected under the 2013 Public-Private Partnership (PPP) law. (Bangkok Post, 7/10/15)
High hopes for GSB soft loan scheme for SMEs – Almost 10 billion baht of the Government Savings Bank’s (GSB) 100-billion-baht soft loan for small and medium-sized enterprises (SMEs) has been approved just three weeks after the scheme started. The approved amount is expected to reach 40-50 billion baht by the end of this month and the entire 100 billion baht will be approved by the year-end, president Chatchai Payuhanaveechai said. (Bangkok Post, 8/10/15)
