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Rate hike depends on economic factors and inflation, says Bank of Thailand (BoT)

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Bank of Thailand (BoT) Governor Tarisa Watanagase on Wednesday announced a central bank decision by the Monetary Policy Committee on April 21 to raise the policy interest rate will be made based mainly on domestic economic factors and the inflation rate.

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She said the central bank would not decide to raise the policy interest rate in the same direction with other countries in the region, but the appropriate period and level at which the interest rate should remain depended on the MPC’s discretion.

Foreign capital flowing into Thailand now in greater volume than in the past, as is foreign capital inflow into the region.

Many central banks raised their policy interest rates in March. Malaysia, for instance, opted to increase the rate by 0.25 per cent to 2.25 per cent, India raised the rate by 0.25 per cent to 3.5 per cent and Australia hiked the rate by 0.25 per cent to 4 per cent .

via Rate hike depends on economic factors and inflation, says BoT.

Asean

12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.

Asian Development Bank

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Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.

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Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

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The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

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Banking

APAC Banks to Face Portfolio Valuation Losses As Yields Rise

The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.

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Fitch Ratings-Hong Kong/Singapore-21 March 2021: A rise in yields for long-dated sovereign bonds will result in near-term losses for Asia-Pacific (APAC) banks as they recognise valuation changes on their available-for-sale (AFS) bond portfolios, but the capital impact should be manageable for most rated banks, says Fitch Ratings.

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