Thailand's minimum wage policy set to drive domestic consumption

Triggering too much inflationary pressure is unlikely.

OCBC Treasury Research noted:

BOT Deputy Governor Pongpen said that the minimum wage policy, which will be kicked off in January 2013, is unlikely to trigger too much inflationary pressure to the economy but would provide a strong boost to domestic consumption, at a time when the external demand remains weak.

Meanwhile, Toyota said that it is aiming to increase vehicle production in Thailand to an average of 1million a year, or 14% more than the projected output for 2012.

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