BANGKOK, Oct 11 (TNA) — An opinion survey on the business sector by Standard Chartered Bank found that big operators expected gloomy economy in the next six months and pinned their hope only on a resolved trade war.
Tim Leelahaphan, economist at the bank, said the survey on 100 big investors, executives of large companies and fund managers showed that businessmen took precautions as they were concerned about the trade war between China and the United States.
Half the surveyed people were affected by the trade war and 30% of respondents expected such negative impacts in the near future.
If the trade war is alleviated, the economy could be stimulated significantly in the next few years. Without the alleviation, the respondents did not see any other factor or stimulus measure could support economic growth, Mr Tim said.
The survey also found that 80% of respondents believed the Monetary Policy Committee would cut the policy rate from 1.50% to 1.25% next month and the rate could decline further because the economy had slowed down seriously for two years.
Of the respondents, 60% were affected by baht appreciation and were losing their export markets. They believed baht would continue to appreciate for two more months. (TNA)
