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Thailand holds key rate steady at 1.75%

The BoT Committee voted unanimously to maintain the policy rate at 1.75 percent

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The Committee voted unanimously to maintain the policy rate at 1.75 percent assessing that the Thai economy would expand around its potential despite at a slower pace than previously assessed due to a slowdown in external demand.

Nevertheless, domestic demand would continue to gain traction. Headline inflation projection was in line with the previous forecast, while core inflation would be slightly lower than previously assessed.

The BoT now forecasts 2019 economic growth of 3.8%, rather than 4.0% three months ago.

Source : bot.or.th

Slower exports growth

Meanwhile, merchandise exports grew at a slower pace than previously assessed due to the global economic slowdown, a down cycle of electronic products as well as impacts from trade protectionism measures between the US and China.

Overall financial conditions remained accommodative and conducive to economic growth. However, there were risks to financial stability in the future that warranted continued monitoring.

The Committee viewed that the current accommodative monetary policy stance had contributed to the continuation of economic growth and was appropriate given the inflation target.

In addition, given heightened global and domestic uncertainties in the current period, the Committee thus voted to keep the policy rate unchanged at this meeting to assess the clarity of impacts from such uncertainties

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Banking

Four Thai banks Probed Over Anti-Money Laundering Investigations

Four Thai banks allegedly involved in suspicious financial transactions are under investigation from the Anti-Money Laundering Office (Amlo)

Olivier Languepin

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The Anti-Money Laundering Office (Amlo) is currently investigating an international report claiming that four major Thai banks were involved in suspicious financial transactions, according to the International Consortium of Investigative Journalists’ report referring to alleged leaked files from the Financial Crimes Enforcement Network of the US.

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Banking

Thai economy continued to improve in July, says Bank of Thailand

In July 2020, the Thai economy continued to improve, driven by public spending and the relaxation of lockdown measures both in Thailand and abroad, said Bank of Thailand.

Pr News

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seaport during golden hour

In July 2020, the Thai economy continued to improve, driven by public spending and the relaxation of lockdown measures both in Thailand and abroad.

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Banking

Bank of Thailand (BOT) to help Multi-Creditors Businesses Lessen Their Debt Burdens

The program aims to provide a mechanism for multi-creditors businesses to lessen their debt burdens and support coordination among multiple creditors.

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The program aims to provide a mechanism for multi-creditors businesses to lessen their debt burdens and support coordination among multiple creditors.
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