’ debt servicing ability. 5 1.3 Regulatory Changes2 Significant regulatory changes in 2017 that may have affected KBank’s and K Companies’ business operations included:  Relaxation of Foreign Exchange

economy is recessive, the public will spend less for relaxation. Regarding the impact from overseas economic situation, if there is an economic crisis, it may affect the number of tourists visiting Thailand

, the European Central Bank and the Bank of Japan may continue their monetary-easing stance. Likewise, many central banks in Asia may cut their policy rates to support their economic recovery. For

timing of exit from quantitative easing policy by many central banks, such as the European Central Bank’s plan to cut its monthly bond-buying program. These developments may influence movements of

Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1 | Bangchak Corporation Public Company Limited Management Discussion and Analysis of Business Operation For the year ended 31st December, 2017 http://www.google.co.th/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjD7_TkjpnTAhUWTo8KHY7JB7MQjRwIBw&url=http://quotesgram.com/green-backgrounds-with-quotes/&bvm=bv.152174688,d.c2I&psig=AFQjCNHfu2LjFbO_WhPIgFLat0wGu3Y2zg...

in late July, and other Asian monetary policymakers followed suit in a bid to sustain their economic growth while also signaling their readiness for more easing if needed during the remainder of this

for tapering or ending their quantitative easing stance at the end of the third quarter of 2018. Given this, several emerging economies including those in Asia may be challenged by fluctuating

balance sheet, whereas the European Central Bank was gradually tapering its quantitative easing stance through reduced monthly asset purchases. Likewise, several other central banks signaled steps to be

yield curve inversion and the downgrade of global economic growth projections. However, US bond yields swung back to rise at the end of the quarter due to easing global trade tensions after the US and

, whereas the European Central Bank and the Bank of Japan may opt for tapering of their quantitative easing stance. Against this backdrop, interest rates in several countries are likely to be on an upward