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April economic and monetary reports (BoT)

The number of tourists has grown at 3.3% year-on-year with increased visitor numbers from ASEAN, India, Japan, and Europe, while the number of Chinese tourists is still in decline.

National News Bureau of Thailand

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Despite the effects of the trade war, the Thai domestic consumption figures, government investments, and the tourism sector still all perform well; resulting in continuous growth of the Thai economy in April.

Bank of Thailand’s (BOT) Macroeconomic and Monetary Policy Department’s Senior Director, Pornpen Somsrichai said today that consumption in the private sector continues to grow in all product categories due to good purchasing power factors and higher wages among employees outside of agriculture.

The growing purchasing power has resulted in the expansion of vehicle manufacturing for domestic sales. Spending on government projects has also grown after the revision of investment projects in keeping with the national strategy, leading to the hastening of investment budget expenditure by the Department of Highways, the Department of Rural Roads, and the Royal Irrigation Department.

Investment by the private sector has also expanded because of the importation of items for manufacturing.

The number of tourists has grown at 3.3% year-on-year with increased visitor numbers from ASEAN, India, Japan, and Europe, while the number of Chinese tourists is still in decline.

The export sector has shrunk by 2.9% year-on-year due to the ongoing trade war between the US and China, resulting in a decrease of electronics, machinery, metal goods, and processed farm item exports. The export of rubber products and sugar is also in decline.

The BOT will be holding discussions with the Monetary Policy Committee to reassess trade war effects, and by the adjustment of Thailand’s economic performance projections this year in June, from the current projection of 3.8% growth. National News Bureau Of Thailand

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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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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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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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