Banking
Bank of Thailand keeps rate at 2%
Bank of Thailand’s Monetary Policy Committee voted unanimously to maintain its policy interest rate at 2% per annum, due to positive economic recovery.

Bank of Thailand’s Monetary Policy Committee voted unanimously to maintain its policy interest rate at 2% per annum, citing positive economic recovery and reduction of political uncertainties.
Mr. Paiboon Kittisrikangwan, Secretary of the Monetary Policy Committee (MPC), justified the BOT decision to keep its main rate stable citing the global economic recovery, led by major economies like the US which continued to grow on the back of stronger labour and housing markets.
Recovery in the euro area and Japan continued at a moderate pace. In China, risks in the financial sectors subsided, while the downside risks to growth diminished in the short term. Asian economies remained stable, with exports partially offsetting slowing domestic demand.
also stated the MPC.
Concerning the Thai economy,
It contracted in the first quarter of 2014 as political uncertainties weighed on domestic demand and tourism. Moderate recovery in exports of goods could not compensate for falling domestic demand.
Following a significant reduction of political uncertainties, the economy should benefit from improving public and private spending. A slow recovery in exports of goods and tourism however pose downside risks to growth.
according to the official statement published by the BOT today.
Banking
APAC corporates likely to improve in 2021
Moody’s Investors Service says in a new report that credit conditions in APAC will improve in 2021, supported by the gradual recovery of economic activity given the early containment of the pandemic in several Asian economies.

Ongoing fiscal and monetary support in both advanced and emerging markets will also aid improving conditions, but renewed lockdowns in parts of the world have stalled the nascent global economic recovery and create uncertainty around improving credit conditions.
(more…)Banking
Can Fintech drive a strong post-COVID-19 recovery in Asia?
The pandemic has highlighted the power of digital technology. Now is the time to harness this power for inclusive growth so that communities, especially in poor and remote areas, can survive the crisis and thrive.
Banking
BoT sees mild impact of new COVID-19 wave on the economy
The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended.

BANGKOK (NNT) – Despite a new and wider wave of COVID-19 infections in the country, the Bank of Thailand (BoT) has assessed that the economic impact of the situation will not be as severe as the first wave as the effects of the virus are not as pronounced, and public health preparations, including plans for vaccination, are in place.
(more…)-
Forex5 days ago
Leverage from Forex Brokers & How Beginners Can Benefit from It
-
National2 days ago
Human trafficking cases in Thailand hit decade low due to COVID-19
-
Economics2 days ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
-
Banking4 days ago
Can Fintech drive a strong post-COVID-19 recovery in Asia?