Connect with us

China

Chinese monetary policy change induces no change in Thailand

Avatar

Published

on

A roll-back of monetary policy by the Chinese authorities would not pull money from Thailand or force the government to raise the policy rate, Finance Ministry spokesman Ekniti Nitithanprapas said yesterday.

He said interest rates were just one factor influencing fund mobility, and so far there had been no irregularities in the baht exchange rate.

Moreover, Thailand is in a different context from China, where loan growth is as high as 40-50 per cent and property prices are at an exorbitant level.

“Thailand has no need to raise its interest rate. China, meanwhile, made the right move. It has witnessed significant loan growth and there are some signs of a property bubble. The higher rate will also help the global economy to contain the problem at home,”

he said.

Kasikorn Research Centre said it expected the Bank of Thailand's Monetary Policy Committee to maintain the policy rate at 1.25 per cent at the first 2010 meeting next Wednesday.

Though inflation is on the rise, the comparison is with the low base last year. Meanwhile, Thailand is undergoing several economic challenges, it said.

Yesterday, Chinese yuan forwards rose to the highest level in more than a month on speculation the central bank will resume appreciation of the currency this year as China’s exports rebound from a slump.

China signalled yesterday it is starting to unwind monetary stimulus measures to curb asset-price inflation, after the central bank sold three-month bills at higher interest rates for the first time in 19 weeks.

via Chinese monetary policy change induces no change in Thailand’s – Nationmultimedia.com.

Comments

China

RCEP and China: Reimagining the future of trade in Asia

The Regional Comprehensive Economic Partnership (RCEP) could eventually usher in an era of much deeper regional integration: for corporates doing business in the region, their future success may well hinge on how adeptly they manage to navigate the evolution of Asia’s trade landscape under the RCEP.

Avatar

Published

on

Last month, 15 countries in the Asia-Pacific region – including the 10 member states of the Association of Southeast Asian Nations (ASEAN) as well as China, Australia, Japan, New Zealand, and South Korea – signed the landmark Regional Comprehensive Economic Partnership (RCEP) on the final day of the 37th ASEAN Summit.

(more…)
Continue Reading

China

Thailand ready to ink big Chinese-backed trade deal

The RCEP will cover all 10 Asean member states plus five partners: China, Australia, Japan, New Zealand, and South Korea and will take effect from the middle of 2021 if at least six Asean members and three partners agree to its terms.

Olivier Languepin

Published

on

Thailand is set to sign the world’s biggest free trade agreement with Japan, China, South Korea and 12 other Asia-Pacific countries at the 37th Asean Summit this week.

(more…)
Continue Reading

Business

Great Wall Motor (China) takes over GM factory in Thailand

The Thai production hub will become operational in the first quarter of 2021 with automobile production capacity of 80,000 units per annum.

Avatar

Published

on

Chinese carmaker Great Wall Motor (GWM) hosted a ceremony on November 2nd to celebrate the latest milestone in taking full ownership of Rayong Manufacturing Facility in Thailand.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

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

Join 13,609 other subscribers

Trending