Connect with us

Banking

BOT cuts key rate from 1.75 to 1.50 percent

The Thai economy was expected to expand at a lower rate than previously assessed and below potential due to the slowdown of trading partner economies and global trade

Olivier Languepin

Published

on

For the first time since 2015, the Bank of Thailand cut its benchmark interest rate on Wednesday, by 0.25 percentage point from 1.75 to 1.50 percent, effective immediately

In deliberating their policy decision, the Monetary Policy Committee (MPC) assessed that the Thai economy would expand at a lower rate than previously assessed due to a contraction in merchandise exports, which started to affect domestic demand.

The Thai economy was expected to expand at a lower rate than previously assessed and below potential due to the slowdown of trading partner economies and global trade, which were affected by intensifying trade tensions that could expand to other countries.

However, the relocation of production base to Thailand and public-private partnership projects for infrastructure investment would support investment in the period ahead.

Public expenditure would grow at a slower pace than previously estimated on account of public investment, which was partly a result of constrained budget disbursement, as well as the expected delay in the enactment of the Annual Budget Expenditure Act, B.E. 2563 (A.D. 2020).

The Thai baht has been Asia’s best performing currency in 2019, according to Bloomberg estimates, rising by more than 6 per cent against the dollar in the year to date.

Both exports and tourism industry, which have been under performing in the year to date, have been hurt by the rising Thai currency .

Source : Bank of Thailand

Continue Reading
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Banking

Thai Baht currency control mulled by central bank

The Industry Minister proposed measures to help business owners, such as the promotion of Thai Baht as a currency for international trade to reduce the risks from US Dollar currency fluctuation

National News Bureau of Thailand

Published

on

BANGKOK, 15th August 2019 (NNT) – The Minister of Industry has held talks with the Bank of Thailand’s Governor over measures to control the fluctuation of Thai Baht currency, minimize impacts faced by SMEs and promote the import of machinery during this time to take advantage of the stronger currency.

(more…)
Continue Reading

Banking

Thailand’s dangerous debt addiction

Thailand is now a top-ten highest household debt country among 89 countries worldwide and third highest among 29 Asian countries.

Olivier Languepin

Published

on

Thailand’s household debt has steadily increased to 78.6% of the country’s gross domestic products (GDP), or Bt12.8 trillion in the fourth quarter of last year, according to figures from the National Economic and Social Development Council.

(more…)
Continue Reading

Banking

Thailand’s four challenges : Debt, inequality, plastics and climate change

Thais tended to get into debt faster, for longer and for higher amounts. Indebtedness starts as soon as they begin to work at age 25 and can increase until 56 years old.

Avatar

Published

on

Bank of Thailand Governor Veerathai Santiprabhob, in his speech entitled “Formulating for the Future of Corporate Governance”, delivered at the Finance and Beyond National Director Conference 2019 in Bangkok (July 24th), said Thailand faces four challenges that require good governance in businesses to address.

(more…)
Continue Reading

Most Read

Upcoming Events

Sep 19

ASEAN (Bangkok)Toys and Preschool Expo

September 19 @ 10:00 am - September 21 @ 7:00 pm BMT
Oct 16

GovInsider Live

October 16 - October 17
Nov 27

The Future Energy Show Thailand

November 27 @ 10:00 am - November 28 @ 5:30 pm BMT
Dec 05

The Healthcare+ Expo Taiwan

December 5 @ 9:00 am - December 8 @ 5:30 pm BMT

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 11,079 other subscribers

Trending