Published at 04:21 (GMT) 07 Jul
BBG: NCPO leader Prayuth said the military government plans to maintain baht stability to boost exports, and does not want the local currency to become 'too strong', however, no further details were revealed. He also said that there are plans to spur the economy by helping low-income earners and supporting exports and tourism, which may see 2014 GDP expanding more than 2%. State banks will be asked to lend more to the low-income group. We expect the Thai economy to grow 1.7% this year due to an expected weak performance in 1H (Please search THB+Q3+quarterly for more details). On the political front, the NCPO will seek the King's approval to introduce an interim constitution and to set up a national legislative assembly by Sep. The temporary constitution is expected to be announce this month.
USD/THB was capped below 32.40 at the start of the week notwithstanding a firmer dollar tone. Further downmove will again threaten strong 32.350/330 supports. Onshore one-year IRS remained at 1.975% on Monday. BA
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