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

Published

5 months ago

August 16, 2019

National News Bureau of Thailand

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.

The Minister of Industry Suriya Juangroongruangkit held talks with Bank of Thailand’s Governor Veerathai Santiprabhob and expressed his satisfaction with Bank of Thailand’s existing measures and attempts to control the currency.

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, encouraging business owners to purchase currency exchange insurance packages and encouraging them to import machinery during this time while Thai Baht currency is stronger.

The Ministry of Industry will be discussing with the Board of Investment (BOI) plans to issue tax incentives for machinery importers, which will help weaken the Thai currency and help increase competitiveness among local SMEs.

Meanwhile, Deputy Prime Minister Somkid Jatusripitak today held talks with executives at the Ministry of Industry, proposing guidelines for the BOI to support further investments by the private sector, including the machinery purchasing promotion and other support measures for SMEs.

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Banking

Bank cuts Thai 2020 GDP growth outlook to 2.7%

SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019

Published

14 hours ago

January 20, 2020

Boris Sullivan

SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy.

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Banking

Moody’s outlook for APAC corporates remains negative in 2020

Moody’s Investors Service says in a new report that overall credit conditions for APAC non-financial companies will weaken in 2020

Published

4 days ago

January 16, 2020

Pr News

• While positive, the US-China trade agreement will not resolve core differences, dampening business sentiment globally

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Banking

Bank of Thailand (BOT) orders banks to revise interest rates and fees

Bank of Thailand (BOT) has ordered commercial banks to revise their interest rates, and the fees they charge for their financial products and services including ATM and debit card fees

Published

2 weeks ago

January 9, 2020

National News Bureau of Thailand

Good news for the general public and SMEs as the Bank of Thailand (BOT) has ordered commercial banks to revise their interest rates, and the fees they charge for their financial products and services, including ATM and debit card fees, to help reduce the burden borne by customers.

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