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Thailand : Inflation, Exchange rates
Modest inflation—slightly above 3%—is projected for the forecast period (Figure 3.30.8). The government has extended a tax exemption on diesel fuel into 2013 and is expected to maintain controls o... n a range of consumer items. Global prices of oil and other commodities look likely to remain broadly stable. Rising domestic wages are anticipated to have a modest impact on inflation, which averaged 3.1% in the first 3 months of this year. Monetary policy is expected to remain accommodative to growth for some time in light of low inflation and strong capital inflows. Higher government borrowing for public investment will likely drain some excess liquidity from the banking system. The monetary authorities have indicated they stand ready to take macroprudential measures to manage rising household debt if consumer lending continues at the high rate seen in 2012. The baht appreciated by 4.5% against the US dollar in the first 3 months of 2013 (Figure 3.30.9).Source: Bloomberg (accessed 23 March 2013)., Asian Development Outlook Database
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