Market now expects growth to fall short of government target of 4%.
Five issues for 2Q15 which will define the rest of 2015:
1.Can exports grow about 2-3% YoY?
2.Will government spending surge as promised in 1Q15?
3.How severe is the drought and can key crop prices recover?
4.What are the impacts of various proposed tax hikes?
5.Will the draft constitution be hailed as a major step in political reform?
BoT being compelled to cut rates; not good news