NESDB:US key rate hike should benefit Thai exports

BANGKOK, December 18 (TNA) - The National Economic and Social Development Board (NESDB) predicts that Thai exports should benefit from the United States' latest key interest rate rise by 0.25 per cent announced by the US Federal Reserve (FED) earlier this week. New NESDB Secretary-General Porametee Vimolsiri told journalists on Friday that the US FED's first increase of its key interest rate in nine years was earlier expected, showing a positive sign of the US economic recovery. Porametee noted that the US key rate hike should also help support the recovery of the global economy and Thai exports. Porametee projected that the prices of Thai farm products should then rise in accordance with the global prices of commodities which were bottoming out. The new NESDB chief explained that the US FED's rate hike would weaken the Thai baht and, thus, benefit overall Thai exports. The NESDB chief said he believed that Thai exports would improve in 2016, compared with a 5 per cent shrink this year. According to the NESDB chief, the Thai economy should grow by 2.9 per cent this year and 3-4 per cent next year, thanks to the government's substantial investment. (TNA)