Thailand’s central bank’s meeting is in December, but it might move to cut rates before then.

Additionally, the global crisis could be devastating to Thailand’s job market and unemployment rate.  As a result of the decline in overseas orders for Thai products, economic growth is estimated to be around 4% for 2009 and unemployment rates are expected to increase, stated Santi Vilassakdanont, Chairman of the Federation of Thai Industries.

To help alleviate these problems, Vilassakdanont suggested a focus on export promotion and that the Bank of Thailand stabilize foreign exchange rates, reports MCOT.

ETFs have taken a hit as well, iShares MSCI Thailand Invest Mkt Index (THD) is down about 54.1% since its April 1 inception.