Conclusion The Bank of Thailand and the Reserve Bank of Australia have, in our respective histories, faced challenges, some of them severe ones. We have learned much from those experiences. In recent years, we have had our own distinct challenges.
Elevated energy import, resulting mostly from higher import prices, led to a widening of the current account deficit and added to depreciation pressures in the domestic FX market since the start of the year. For this reason, we have also revised our current account deficit projection for this year from below 5%, which is what we expected in February, to 6.5% of GDP.