Connect with us

Banking

Bank of Thailand (BoT) rate unchanged at 2.75 per cent

The Bank of Thailand (BoT) kept its key interest rate unchanged at 2.75 per cent for its third straight meeting on Wednesday, resisting government pressure to slash the rate to stem foreign inflows.

Published

on

Prime Minister Yingluck Shinawatra will make a one-day official visit to the Philippines on Thursday, 19 January 2012, to introduce himself after assuming office as the Prime Minister of Thailand.

The Bank of Thailand (BoT) kept its key interest rate unchanged at 2.75 per cent for its third straight meeting on Wednesday, resisting government pressure to slash the rate to stem foreign inflows.

Monetary Policy Committee (MPC) secretary Paiboon Kittisrikangwan announced the decision of the meeting that it voted 6 to 1 to maintain the policy interest rate as before.

“The MPC judged that the accommodative monetary policy stance contributed to sustained growth of the economy, while inflation has been kept within the target range. However, given remaining uncertainties surrounding the global economic outlook and risks to domestic financial stability including from rising asset prices, the MPC voted 6 to 1 to maintain the policy interest rate at 2.75 per cent,” the committee said in a statement.

One member “viewed risks stemming from volatile capital flows and fragile economic momentum [such as] to warrant a 0.25 per cent reduction,” it said.

There are still concerns over monetary stability following continuing growth signals of credit and household debt, risks that need close monitoring to prevent a bubble in the future.

Bank of Thailand

The Bank of Thailand (BoT) kept its key interest rate unchanged at 2.75 per cent for its third straight meeting on Wednesday

“The MPC took all factors into consideration before making the decision. It did not only consider the capital inflows,” said Mr Paiboon.

The committee said it will continue to monitor risks to financial stability as well as capital flows and stands ready to take action as appropriate.

The Stock Exchange of Thailand (SET) index closed Wednesday at 1,546.64 points, up 14.57 points in trade worth Bt63 billion. (MCOT online news)

Thai central bank keeps key interest rate unchanged | MCOT.net

No. 8/ 2013 Monetary Policy Committee’s Decision on 20 February 2013

Mr. Paiboon Kittisrikangwan, Secretary of the Monetary Policy Committee (MPC), announced the outcome of the meeting today as follows. The global economy has been more stable and exhibited signs of improvement since the last meeting. The Chinese and Asian economies have expanded well on the back of strong domestic demand and better prospects of exports.

Domestic consumption and investment in the US continued to expand and, if sustained, should lend support to the economy going forward. The eurozone economy remained in recession and would take time to fully recover. Economic growth in Japan has yet to gain traction, but the planned fiscal and monetary stimulus should gradually help stabilise the economy.

Despite improving overall outlook, the global economic recovery is still subject to downside risks, from the eurozone’s sovereign debt problems and uncertainties regarding the US fiscal consolidation. The Thai economy expanded more than expected in the fourth quarter of 2012, spurred by domestic demand amid strong economic fundamentals as well as accommodative monetary and fiscal policies. The economy is expected to grow faster than previously projected in the periods ahead, with domestic demand being a key growth driver together with a gradual recovery of exports.

Inflationary pressure has risen somewhat, as a result of an increase in oil prices. The MPC judged that the accommodative monetary policy stance contributed to sustained growth of the economy, while inflation has been kept within the target range.

However, given remaining uncertainties surrounding the global economic outlook and risks to domestic financial stability including from rising asset prices, the MPC voted 6 to 1 to maintain the policy interest rate at 2.75 percent per annum. One member viewed risks stemming from volatile capital flows and fragile economic momentum to warrant a 0.25 percent reduction. Going forward, the MPC will continue to closely monitor risks to financial stability as well as capital flow situation and stand ready to take actions as appropriate.

Bank of Thailand 20 February 2013 For further information, please contact: Monetary Policy Strategy Team 1 Tel: +66 (0) 2283 6186, 356 7872 email: MonetaryPolicyStrategyTeam1@bot.or.th

Banking

The Importance of E-Wallets for Online Gaming Sites

With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.

Published

on

e-wallet

Online gambling is an industry that needs to keep up with technological trends, to make sure it stays relevant and convenient within the gambling community.

(more…)
Continue Reading

Banking

Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.

Published

on

BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,160 other subscribers

Wise

Recent