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Bank of Thailand Holds Key rate and raises 2017 GDP forecast

Thailand’s central bank kept its benchmark interest rate unchanged at 1. 5 percent where it’s been since 2015, according to a Bank of Thailand statement

Boris Sullivan

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The Monetary Policy Committee resolved unanimously to retain policy interest rate at 1. 5 percent where it’s been since 2015, according to a Bank of Thailand statement on its website on Wednesday

Mr Chaturong Chantharang, assistant governor of the Bank of Thailand for monetary police, said that the MPC wanted to continue using lenient monetary policy to boost sustained economic expansion and to keep inflation rate within target.

The Thai government is hoping for a pick up in investment and consumer spending to broaden the expansion in Southeast Asia’s second-largest economy, which remains export-reliant.

According to economic assessments this year and next year, the economy tends to expand at higher rate than previously projected – 3.9 percent instead of 3.8 percent.

The Thai economy as a whole was projected to achieve higher growth than previously assessed on account of continued improvements in merchandise exports and tourism that were driven by a stronger global economic recovery

Forecast Summary as of December 2017

The Thai economy was projected to achieve faster growth than previously assessed driven by continued improvements in exports of goods and services, the gradual recovery in private consumption and investment, and continued growth in public
expenditure.

• Inflation forecasts remained close to the previous assessment with inflation still projected to slowly rise.
• The growth outlook was still subject to risks that warranted close monitoring, namely uncertainties pertaining to US economic and foreign trade policies as well as geopolitical risks.

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Banking

Corporate debt market in Thailand well positioned for further growth

Brazil, China, South Africa and Thailand are best-placed for corporate debt market growth says Moody’s Investors Service in a report that analyzed trends in 35 emerging markets.

Olivier Languepin

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Corporate debt markets in Brazil (Ba2 stable), China (A1 stable), South Africa (Baa3 negative) and Thailand (Baa1 positive) are best-placed to achieve further growth in the coming years, Moody’s Investors Service said today in a report that analyzed trends in 35 emerging markets.

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Banking

BOT relaxes rules to Curb Strong Baht

the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht.

Boris Sullivan

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The Thai baht has been under pressure due to imbalanced capital flows in the current environment of highly uncertain and volatile external conditions, the Ministry of Finance (MOF) and the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht.

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Banking

Bank of Thailand cuts rate by 0.25% to 1.25 per cent

The latest cut brings the Bot’s policy rate to an historical low, which the bank maintained from April 2009 to July 2010 during the subprime global financial crisis.

Bahar Karaman

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​On 6 November 2019, the MPC voted 5 to 2 to reduce the policy rate by 0.25 percentage point from 1.50 to 1.25 percent, effective immediately. Two members voted to maintain the policy rate at 1.50 percent.

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