Banking
Thailand’s central bank keeps interest rate unchanged (1.5%)
The Bank of Thailand agreed unanimously to keep the policy interest rate at 1.5 percent unchanged for the fifth straight meeting.

The Monetary Policy Committee agreed unanimously to keep the policy interest rate at 1.5 percent unchanged for the fifth straight meeting.
Twenty-two economists surveyed by Bloomberg News predicted the decision, while one forecast a quarter-of-a-percentage-point cut.
The BoT assessed that economic recovery for the third quarter has picked up with the prospect that the growth rate for the whole year will slightly exceeded the 2.7 percent projection.
From the third quarter to October 2015, the Thai economy gradually recovered, supported by high disbursement of public expenditure, an expansion in private consumption of necessity goods, and an improving number of tourist arrivals, especially Chinese tourists. Meanwhile, merchandise exports continued to contract, and going forward would continue to face downside risks from a slowdown in the Chinese and other Asian economies and subdued commodity prices.
Mr Chaturong Chantharung, assistant governor for monetary policy of the Bank of Thailand, said growth rate for next year would be close to an earlier projection of 3.7 percent.
Nevertheless, the economic growth forecast for 2015 was slightly revised up on the back of continued expansion of consumption and fiscal stimulus measures. The economic growth forecast for 2016 remained close to the previous assessment.
The Monetary Policy Committee, said Mr Chaturong, felt that monetary situation and exchange rate were still conducive to economic recovery while domestic money market had the tendency to fluctuate as a result of interest rate change in industrialized economies and Federal Reserve’s decision on interest rate.
He said that the central bank needs to brace itself against the risk factors affecting the economy and is ready to ease restrictions on monetary policy.
The Committee assessed that monetary conditions and exchange rate remain supportive to the economic recovery.
Looking ahead, monetary policy stance should continue to be sufficiently accommodative.
Moreover, given financial stability considerations and a potential rise in financial market volatility due to monetary policy divergence among advanced economies, the policy interest rate should be kept unchanged at this meeting.
However, the Committee will continue to closely monitor downside risks to growth, particularly those stemming from a slowing global economy, structural limitations, and uncertainty in the global financial markets.
The Committee stands ready to utilize an appropriate mix of available policy tools in order to support the economic recovery, while ensuring financial stability
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…)-
Economics9 hours ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
-
Forex3 days ago
Leverage from Forex Brokers & How Beginners Can Benefit from It
-
Tourism1 week ago
Wish you were here: how the pandemic harmed tourism-dependent economies
-
National5 hours ago
Human trafficking cases in Thailand hit decade low due to COVID-19