Koon Thaveepat is in danger of losing his pickup truck and his livelihood. He’s behind on loan payments as Thailand’s anti-government protests delay state rice-purchase payments, threatening to plunge thousands of farmers deeper into debt.
Thailand’s economy grew at the slowest pace in almost two years last quarter as political unrest hurt local demand and tourism, increasing pressure on the central bank to cut interest rates and support expansion.
Thai anti-government protesters said they plan to disrupt elections this weekend as part of a three- month campaign to unseat Prime Minister Yingluck Shinawatra and dismantle her brother’s political network.
Thailand unexpectedly held its key interest rate, even as it cut its economic growth forecast after Prime Minister Yingluck Shinawatra yesterday declared a state of emergency in Bangkok to control anti-government protests.
Thailand’s baht fell to a 12-week low and government bonds dropped as protesters seeking to oust Prime Minister Yingluck Shinawatra vowed more unrest after clashes left three dead in Bangkok at the weekend.
Thailand’s baht fell for the first time in a week as a budget deal in the U.S. and signs the world’s largest economy is improving added to concern the Federal Reserve may reduce its stimulus as early as next week.