{"id":90155,"date":"2023-02-08T19:35:00","date_gmt":"2023-02-08T12:35:00","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=90155"},"modified":"2023-02-10T11:37:26","modified_gmt":"2023-02-10T04:37:26","slug":"kbank-private-banking-and-lombard-odier-identifies-key-turning-points-for-2023","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/kbank-private-banking-and-lombard-odier-identifies-key-turning-points-for-2023\/","title":{"rendered":"KBank Private Banking and Lombard Odier identifies key turning points for 2023"},"content":{"rendered":"\n

KBank Private Banking, in strategic alliance with Lombard Odier, Switzerland-based global private bank,\u00a0estimates 2023 global economy to undergo a mild recession due to signs of disinflation, lowered risks around Europe\u2019s energy crisis, and benefits from China reopening. At the seminar \u201c2023: A Year of Turning Points\u201d<\/strong>, KBank Private Banking recommends investment strategies in response to major events in the global economy: minimizing portfolio volatility through alternative assets and increasing investments in fixed-income, global, China and Asia equities, and mixed funds as risk assets set to become more attractive.\u00a0KResearch\u00a0expects Thai economy growth to accelerate from drivers in tourism while the export sector still faces pressure.<\/p>\n\n\n\n

Jirawat Supornpaibul, Executive Chairman, Private Banking Group, KASIKORNBANK,\u00a0<\/strong>said, \u201cThe investment landscape in 2022 was highly challenging due to the depreciation of almost all asset classes. However, economic conditions in the early 2023 have been beneficial for investment so far, from gradual disflation in goods despite service prices remaining high from the tight labour market, and policy interest rates of global central banks \u2013 particularly the US \u2013 close to reaching their peaks and likely stay at an elevated level throughout 2023. We expect the economies of developed countries to enter a Slow Down while emerging markets are likely to be boosted by China reopening.\u201d<\/p>\n\n\n\n

Dr. Charl Kengchon, Executive Chairman of Kasikorn Research Center, <\/strong>added, \u201cWith Thailand\u2019s economy continuing to regain recovery, KResearch has upgraded its 2023 GDP growth projection to 3.7 percent, owing to an upswing in the toursim sector as China reopened the country sooner than previously forecast. According to the latest estimation, international tourist arrivals are likely to reach 25.5 millions. Exports, however, remain under pressure from a slow global economy and a strong baht, which is expected to persist throughout the year. Thailand\u2019s exports, therefore, are projected to contract by 0.5%.\u201d<\/p>\n\n\n\n

As for the global economy in 2023, Lombard Odier<\/strong> expects continuous pressures from various negative factors before the recovery can materialize, with three key takeaways as follows:<\/p>\n\n\n\n

Inflation has started its descent but central banks will remain restrictive for a while<\/strong><\/p>\n\n\n\n