Bank of Thailand raises key interest rate to highest level in nine years
The Bank of Thailand raised its key interest rate to 2.25%, citing concerns about upside risks to prices and the need to ensure inflation stays low in the long term.
Thailand’s Move Forward Party’s proposal to form a “security alliance” with the US has raised concerns about the future of Thai-Chinese economic relations.
Thai Consumer confidence rose for the 12th consecutive month in May
Spending during the May election helped consumption and confidence was also boosted by better-than-expected economic growth in the first quarter, driven by tourism.
Three Omicron subvariants are behind the current waves of COVID-19 in China and Southeast Asia, which may cause severe symptoms even among vaccinated people who have not had a booster shot.
Thai central bank to promote yuan-baht trade settlement
The BOT has been cooperating with other Asian central banks to establish local currency settlement frameworks, which aim to encourage the use of regional currencies for trade, investment, and tourism.
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